The Global Financial Crisis or Great Recession is generally ...

[NClaborn]

The Global Financial Crisis or Great Recession is generally recognized as the greatest financial crisis since the Great Depression of the 1930s.
 
  Indicate whether the statement is true or false

Question 2

You own a contract that promises an annuity cash flow of 100 year-end cash flows for each of the next three years (note: the first cash flow is exactly one year from today). At an interest rate of 10, what is the present value of this contract?
 
  A) 248.69
  B) 273.55
  C) 331.00
  D) 364.10

[Jossy]

Answer to Question 1

TRUE

Answer to Question 2

A
Explanation: A) PVA = 100/.10  (1-(1/(1.1 )3 )) = 248.69 or, via calculator; N = 3, I = 10, PMT = 100, FV = 0 solve for PV.

[NClaborn]

Excellent

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