Your daughter is born today and you want her to be a millionaire by the time she is 40 years old.
open an investment account that promises to pay 11.5 per year.
How much money must you
deposit today so your daughter will have 1,000,000 by her 35th birthday?
A) 20,100 B) 22,150 C) 28,575 D) 18,940
Question 2
The distinguishing feature of a corporation is that:
A) a corporation is a legally defined, artificial being, separate from its owners.
B) there are no legal differences between the corporation and its owners.
C) it spreads the liability for its corporate obligations to all shareholders.
D) it provides limited liability only to small shareholders.
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