1. Which of the following statements about stock trading is correct?
A. The NASDAQ is a computer network, with no physical location for trading.
B. The number of NYSE exchange members is unlimited.
C. The NASDAQ uses a specialist system for actively traded stocks.
D. The NYSE does not have a physical location for stock trading activities.
2. What is the present value of the right to receive four equal payments (annuity due) of $1,000 per period, discounted at a rate of 10 percent per period? (Round your answer to the nearest cent.)
A. $1,909.09
C. $1,464.10
B. $3,486.85
D. $2,486.85