If the Present Value of $500 to Be Received in One

question 14

Multiple Choice

If the present value of $500 to be received in one year is $463,the interest rate is

• A)5 percent per year.
• B)8 percent per year.
• C)10 percent per year.
• D)20.8 percent per year.
• E)37 percent per year.

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Definitions:

Organic Solidarity

A concept in sociology that describes how complex societies maintain social cohesion and integration through interdependence and the specialization of roles.

Industrialized Societies

Societies characterized by a high level of industrialization, technological advancement, and urbanization.

Interdependence

The mutual reliance between two or more groups, organisms, systems, or entities for support or survival.

Class Consciousness

An awareness of one's social class and the associated interests and struggles, often leading to collective political action or movements.