1. Know some types of bonds. Explain the present value formula. Explain the discount rate. Discuss compounding.
2. A company deposits $10,000 in a bank at the beginning of each year for 20 years. The account earns 4% interest, compounded every 6 months. What is in the account at the end of 20 years?
3. Adam Smith's guiding principles of taxation give clear direction on how to build a tax code for the economy. Discuss.