You Have to Make a Balloon Payment on Your House

question 20

Multiple Choice

You have to make a balloon payment on your house five years from now of $15,000.If money can earn an average of 6 percent a year for the five year period,how much will you have to place in the account today to have the $15,000 in five years?

• A)$11,193.00
• B)$11,208.87
• C)$20,073.00
• D)$20,101.50

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Definitions:

Men

Refers to adult human males, often discussed in the context of gender studies, sociology, and human biology.

Espoused Values

Espoused values are the explicitly stated values and norms preferred by an organization, which are often communicated through its mission and vision statements.

Global Organization

An entity that operates in multiple countries, often with a centralized headquarter but with operational facilities spread worldwide.

National Cultures

The set of shared values, beliefs, and norms that distinguish the people of one country from those of another.