How much money would you have to put into a savings account today to be worth $500 three years from now at a market rate of interest equal to 8 percent?
A) $397
B) $351
C) $420
D) $459
A
Economics
You might also like to view...
Money serves as a standard of deferred payment when
A. It can be easily store today and used for transactions in the future B. Payments agreed to today but made in the future are in terms of money C. Sellers are willing to accept it in exchange for goods or services
Economics
If the MPC in an economy is .8, government could shift the aggregate demand curve rightward by $100 billion by:
A. increasing government spending by $25 billion. B. increasing government spending by $80 billion. C. decreasing taxes by $25 billion. D. decreasing taxes by $100 billion.
Economics