Instructions: Use the TVM operations on your calculator to answer the following questions Unless otherwise stated, assume that interest rates are given annual and payments are made monthly. Round your answers to 2 decimal places. a)(2 points) If you purchase a parcel of land today for $50,000 and you expect it to appreciate 10 percent per year in value, how much will your land be worth 10 years from now

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.