Present and Future Value Tables of $1 at 3% Are

question 112

Multiple Choice

Present and future value tables of $1 at 3% are presented below:

-Today, Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. What is the maturity value of the CD?

• A) $109,270.
• B) $119,410.
• C) $142,576.
• D) $309,090.

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Definitions:

Francs

A former currency of France, which was replaced by the Euro.

Consumption

The act of utilizing economic goods to satisfy needs or desires.

Revealed Preferred

A theory in economics that preferences of consumers can be understood from their purchasing habits and choices, as observed from actual market behavior.

WARP

The Weak Axiom of Revealed Preference, a concept in microeconomics that asserts if a consumer prefers bundle A over bundle B when both are affordable, then the consumer will not choose B over A when B's price decreases making it more affordable.