€20,000 Is Borrowed Over 3 Years at 9

question 8

Multiple Choice

€20,000 is borrowed over 3 years at 9.5% compounded. Calculate the annuity that must be paid into the sinking fund in order to meet this commitment, assume payments are made in arrears and can be invested at 4.5% (to the nearest €10) .

• A) €8,370
• B) €8,380
• C) €8,390
• D) €8,400

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The condition in which all available labor resources are being used in the most economically efficient way, typically characterized by the absence of cyclical unemployment.

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A U.S. legislation in 1913 that established the Federal Reserve System as the central banking system of the United States, designed to provide the country with a safer, more flexible, and more stable monetary and financial system.