In the modern U.S. economy, most transactions are made with
A. cash.
B. gold and silver.
C. credit cards.
D. checking deposits.
Answer: D
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Assume that the price of a futures contract is higher than the price of the underlying security during the delivery period. Arbitrageurs would
A) buy the futures, simultaneously sell the underlying asset, and pocket the price difference. B) sell the futures, simultaneously buy the underlying asset, and pocket the price difference. C) sell the futures, simultaneously sell the underlying asset, and pocket the price difference. D) buy the futures, simultaneously buy the underlying asset, and pocket the price difference.
Refer to the table below. What is the value of A plus B plus C plus D (A + B + C + D) or the present value of the first four payments?
The above table shows a 5 year payment plan. Each payment is made at the end of the year, so after one year, a payment of $1,000 is made, after two years another payment of $1,500 is made and so on. The interest rate is 3 percent.
A) $6,200.50
B) $6,225.32
C) $6,436.27
D) $6,589.23