Comparing salaries from different times

Consider golfers who led the Professional Golfers’ Association of America (PGA) in winnings at different points in time. Note that the winnings are nominal figures (unadjusted for inflation).

To convert the original earnings of Casper, Watson, and Stadler, use the formula for converting dollar figures from an earlier era into year 2009 U. S. dollars. Using those figures, fill in the following table, making sure to round your responses to the nearest U. S. dollar.

Year Golfer Nominal Winnings U. S. CPI Winnings in 2009 Dollars
(Dollars) (1983 = 100)
1968 Billy Casper 205,169 34.8
1980 Tom Watson 530,808 82.4 1,381,776
1982 Craig Stadler 446,462 96.5
2009 Tiger Woods 10,508,163 214.5 10,508,163
True or False: According to the previous table, the golfer with the highest PGA winnings in nominal dollars is the same as the golfer with the highest PGA winnings after adjusting for inflation.

True

False

What is the percentage change in price for a zero coupon bond if the yield changes from 6.56.5% to 5.55.5%? the bond has a face value of $1 comma 0001,000 and it matures in 1010 years. use the price determined from the first yield, 6.56.5%, as the base in the percentage calculation?

Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?