You were given $16,000 by a relative with no strings attached. You decide to pursue 2 goals: (1) buy a motorbike today and (2) buy a used car for $12,000 when you graduate college in 4 years. Your interest rate is 2% compounded annually. How much can you spend on a motorbike today? a) $4,914
b) $4,899
c) $4,987
d) $4,832

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.

Because the demand for wheat tends to be inelastic. true or false