Money and New Ford Taurus

Topics: Money, Annual percentage rate, Payment Pages: 4 (1172 words) Published: February 17, 2013
Do you think it will be a good idea to offer an annual package of Rs 55 lakh to foreign faculty with Indian origin for science institutes? Would this leave Indian faculty happy?

It would be very unwise if different faculty with same qualification are being given a different salary for the same job. As this will violate the principal of equal pay for equal work. In India the problem of salary is most in the Teaching sector then in any other sector. Globally, teaching is a very noble profession and it is highly paid also.

5 points) Carlos goes to the bank to take out a personal loan. The stated annual interest rate is 12%, but interest is compounded monthly and he will make monthly payments. The effective annual interest rate (EAR) of the loan is less than 12%. False


Ranjit began setting aside $6,000 per year in a mutual fund at the age of 25. He has turned 34, and has just made a deposit. The mutual fund has returned 6.5% annually. How much does Rajit have in his account today? 60000


nts) Dominique has just turned 65 and she has deposited her annual payment of $20,000 into her retirement account. She made her first such saving deposit into this fund on her 35th birthday. Dominique has also retired and wants to figure out how much money she has in her retirement account for her retired life. You are Dominique's friend who knows finance. How much is Dominique's savings worth today given that the fund has earned an annual return of 5.5%? (Enter just the number without the $ sign or a comma; round off decimals.)


Marcel has just graduated from college and has found a job that will pay him $25,000 per year at the end of each year, but the job is only for 5 years. He is not worried about that because he plans to do an MBA after gaining 5 years experience anyway. What is the value today of his 5-year salary assuming that the interest rate is 3%? 122623


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