The study of the development, structure, and functioning of human society is called ____________.

How much will you have accumulated in depreciation at the end of 2008?

You just learned that your grandmother left you a perpetuity in her will that was intended to pay you $1,000 per year for the rest of your life.  Grandma anticipated that you would make 8%, but you have only managed to average 5%. How much more should Grandma have deposited in the account?  

What is the revenue forecast for 2008?

This is the largest of the Great Lakes (good to know, since we are in a “Great Lakes state”).

What is the current ratio for this firm?

What will be the cost of revenue in 2008?

These three questions are short answer.  Please don’t write more than a paragraph in answering them, and bullet points are fine when possible.

Eight years ago, you took out a mortgage on your home and are currently considering refinancing into a loan at a lower rate and for a shorter term.  Your original loan was for 30 years, at 4.5% interest on the $200,000 borrowed, and you pay monthly.  The new loan you are considering will be for 15 years at a rate of 2.5%.  Again, the payments will be monthly.  What will your new payment be if you take on this new loan? (hint: first, find the balance remaining)

You just won the lottery and have been offered the opportunity to receive 10,000 every year for the rest of your life, or you can take a lump sum payment of $500,000.  What discount rate is the lottery using to come up with that lump-sum payout?