Given an Interest Rate of 3 Percent, the Present Value

question 13

Multiple Choice

Given an interest rate of 3 percent, the present value of a future payment of $2,080 to be paid in one year is:

• A) $1,904.76
• B) $2,000.00
• C) $2,019.42
• D) $2,080.00

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Definitions:

New England

A region in the northeastern United States, consisting of six states (Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut), known for its colonial history and distinct cultural identity.

Slave Trade

The slave trade was a global system of trading African slaves across continents, primarily to the Americas, greatly impacting societies and economies.

Communications Revolution

A period marked by significant changes in communication technologies, including the advent of the Internet, mobile phones, and social media, dramatically altering the way information is disseminated and consumed.

Pony Express

A fast mail service crossing the North American continent from Missouri to California that operated from April 1860 to October 1861.