Compute the Duration for the Data in This Problem Using

question 8

Multiple Choice

Compute the duration for the data in this problem using a discount rate of 12%. $$\begin{array} { | c | c | } \hline & \text { Cash } \\\hline \text { Year, t } & \text { Flow } \\\hline 1 & 90 \\\hline 2 & 90 \\\hline 3 & 90 \\\hline 3 & 1000 \\\hline\end{array}$$

• A)3.00 years
• B)2.95 years
• C)2.85 years
• D)2.75 years
• E)2.65 years

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Definitions:

Collectivist Cultures

Societies that prioritize the group over the individual, emphasizing community, cooperation, and shared values.

Individualistic Cultures

Cultures that emphasize the importance of individual goals, autonomy, and personal achievements over collective ones.

Cultural Differences

The variations in practices, norms, and values among people from different societies or social groups.

Internally Oriented

Focused on one's own thoughts, feelings, and inner experiences rather than external events.