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Author Question: If you place 100 in a bank account that pays 6 at the end of each year, and you leave your 100 and ... (Read 24 times)

Starlight

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on: Jul 1, 2018
If you place 100 in a bank account that pays 6 at the end of each year, and you leave your 100 and all your interest in the bank, how much will you have in the bank at the end of 7 years with annual compounding?
 
  A) (106)7
  B) 7  (106)
  C) 100  (1.60)7
  D) 100  (1.06)7

Question 2

Interest rates are positive mainly because
 
  A) of inflation.
  B) people tend to prefer the present to the future.
  C) people tend to prefer the future to the present.
  D) bankers are greedy.
Microeconomics ¦ Perloff ¦ 8th Edition
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marict

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


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