Ontario passed a law in 1996 that the names of all public servants earning $100 000 or more will be published starting 1997. This year (2013), Ontario is planning to revise the amount to an equivalent purchasing power amount in 2014. What is the amount in 2014, beyond which the names of the Ontario's public servants should be published, assuming the recommended discount rate is 2.5% per year?
Ontario passed a law in 1996 that the names of all public servants earning $100 000 or more will be published starting 1997. This year (2013), Ontario is planning to revise the amount to an equivalent purchasing power amount in 2014. What is the amount in 2014, beyond which the names of the Ontario's public servants should be published, assuming the recommended discount rate is 2.5% per year?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Ontario passed a law in 1996 that the names of all public servants earning $100 000 or more will be published starting 1997. This year (2013), Ontario is planning to revise the amount to an equivalent
discount rate is 2.5% per year?Select one:O A. $142 500 B. $65 720 C. $102 5000 D. $100 000
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