$\begin{array}{cc}\text { Year } & \text { 1-Year Forward Rate } \\1 & 4.6\% \\2 &4.9\% \\3 & 5.2\% \\4 & 5.5\% \\5 &6.8\%\end{array}$

question 3

Multiple Choice

$\begin{array}{cc}\text { Year } & \text { 1-Year Forward Rate } \\1 & 4.6\% \\2 &4.9\% \\3 & 5.2\% \\4 & 5.5\% \\5 &6.8\%\end{array}$ What should the purchase price of a 1-year zero-coupon bond be if it is purchased today and has face value of $1,000?

• A) $966.37
• B) $912.87
• C) $950.21
• D) $956.02
• E) $945.51

Understand the differences in motivation between franchisees and salaried managers.

Explore the concepts of risk sharing and shirking in franchise relationships.

Grasp the dynamics of franchisee versus franchisor relationships.

Understand the basic principles of franchising and its benefits versus company-owned stores.

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Definitions:

Dynamic

Characteristic of processes or systems that are constantly changing or evolving, often requiring adaptive strategies or responses.

Environmental Conditions

The external factors including climate, terrain, and biological factors that influence ecosystems and human activities.

Growth Strategy

A plan of action that outlines how a business intends to expand its operations and customer base, leading to increased revenue.

Merge

The action or process of combining two or more entities into one, often in the context of organizational or business consolidations.