You Win a Lottery That Pays $10,000 Each Year for the Next

question 126

Multiple Choice

You win a lottery that pays $10,000 each year for the next 5 years beginning next year. How much are your winnings worth today?

• A) $50,000
• B) $45,455
• C) $10,000
• D) indeterminate with the given information

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Definitions:

Learning Perspective

View of human development that holds that changes in behavior result from experience or from adaptation to the environment.

Environment

The surrounding conditions, influences, and forces that affect the existence and development of an organism or community.

Unconscious Fantasies

Mental processes and imagined scenarios that are not readily available to conscious awareness, often influencing behavior and emotions subtly.

Punishment

The imposition of a penalty in response to an undesirable behavior, with the intention to reduce or eliminate that behavior.