Refer to the Following Table When Answering the Following Questions

question 64

Multiple Choice

Refer to the following table when answering the following questions.
Table 20.1: Annual Average Exchange Rates: 2005-2015
-Consider Table 20.1. According to the table, $1CAN buys ________ $US in 2009.

• A) 1.06
• B) 0.88
• C) 0.94
• D) 0.78
• E) 1.07

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Definitions:

Equal Payments

Regularly scheduled payments of the same amount, common in loans and amortization plans.

Compounded Annually

Interest that is calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, done once a year.

Compounded Monthly

This refers to the calculation of interest on the initial principal and the accumulated interest over previous periods on a monthly basis.

Investor

An entity or individual who commits funds hoping to achieve monetary rewards.