Voluntary exchange is the actions of buyers and sellers freely coming together in the marketplace to buy and sell goods. They are not restricted or told what to buy, how to buy it, or how much, by the government or any other regulator.
Answer:
b
Explanation:
"client" means a person who has entered into an agency relationship with a licensee.
Answer:
Don't ask so many questions at the same time ok
Answer:
$11,098.94
Explanation:
first we must calculate the future value of the 7 year annuity:
FV of an annuity = p x {[(1 + r)ⁿ - 1] / r}
- p = $13,100
- r = 17.18%
- n = 7
FV of an annuity = $13,100 x {(1.1718⁷ - 1) / 0.1718} = $13,100 x 11.8377 = $155,073.56
since he wants to have $176,000, he needs $20,926.44 more in 7 years (= $176,000 - $155,073.56)
X = FV / (1 + r)ⁿ
- future value =
- n = 4 years
- r = 17.18%
X = $20,926.44 / 1.1718⁴ = $11,098.94