Suppose you own a bicycle but haven't found the time to ride it much lately. these days, it is only worth $41 to you. one of your close friends, who recently got a job at the college bookstore two miles down the road, wants to take it off your hands. he offers you $70 for the bicycle, and you gladly accept. your friend is also happy because he thinks the bicycle is worth $91 . how much total value was created from this trade?

The board of directors is the highest ranking body in a corporation, and the chairman of the board is the highest ranking individual. the ceo generally works under the board and its chairman, and the board generally has the authority to remove the ceo under certain conditions. the ceo, however, cannot remove the board, but he or she can endeavor to have the board voted out and a new board voted in should a conflict arise. it is possible for a person to simultaneously serve as ceo and chairman of the board, though many corporate control experts believe it is bad to vest both offices in the same person. true false

Your sister turned 35 today, and she is planning to save $60,000 per year for retirement, with the first deposit to be made one year from today. she will invest in a mutual fund that's expected to provide a return of 7.5% per year. she plans to retire 30 years from today, when she turns 65, and she expects to live for 25 years after retirement, to age 90. under these assumptions, how much can she spend each year after she retires? her first withdrawal will be made at the end of her first retirement year.

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?