« previous next »

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 83 times)

Starlight

  • Hero Member
  • *****
  • Posts: 567
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
Buy Test-Bank


marict

  • Sr. Member
  • ****
  • Posts: 304
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

This chart illustrates the four quadrants in which we can place the relationships between the state This chart illustrates the four quadrants in which we can place the relationships between the state
Gustave Caillebotte, Place de l'Europe on a Rainy Day. Gustave Caillebotte, Place de l'Europe on a Rainy Day.
U.S. Life Expectancy by Year of Birth U.S. Life Expectancy by Year of Birth
The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ... The remarkably complete skull of a 3-year-old Australopithecus girl; the fossil is 3.3 million ...
The West Bank Challenge The West Bank Challenge
Chicago - If You Leave Me Now (Official Audio) Chicago - If You Leave Me Now (Official Audio)
Video: Bone cells and tissues - tissue composition and cells

For a complete list of videos, visit our video library