Use the following tables to calculate the present value of a $20,000 7%, 5 year bond that pays $1,400 ($20,000 x 7%) interest annually, if the market rate of interest is 7%
Present Value of $1 at Compound Interest
Present Value of Annuity of $1 at Compound Interest
Definitions:
Incomes
Earnings accrued, especially periodically, from labor or investment gains.
Freedom To Farm Act
A U.S. federal law enacted in 1996 aimed at allowing farmers greater management flexibility in what they plant and produce.
Agricultural Price Supports
Government interventions to stabilize or increase agricultural product prices through mechanisms such as subsidies or purchase commitments.
Acreage Allotments
A pre-1996 government program that limited the total number of acres to be used in producing (reduced amounts of) various food and fiber products and allocated these acres among individual farmers. These farmers had to limit their plantings to the allotted number of acres to obtain price supports for their crops.
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