The Present Value of an Expected Future Payment ________ as the Interest

question 37

Multiple Choice

The present value of an expected future payment ________ as the interest rate increases.

• A)falls
• B)rises
• C)is constant
• D)is unaffected

---

Definitions:

Religious Conviction

A firm belief in a particular religion or religious principles, often guiding an individual's actions and decisions.

Immediate Emancipation

The instant freeing of slaves, without gradual measures, often advocated by abolitionists before and during the American Civil War.

Gradual Emancipation

A series of acts passed in state legislatures throughout the North in the years following the Revolution that freed slaves after they reached a certain age, following lengthy “apprenticeships.”

Free Blacks

Encompasses African Americans who were not enslaved during the period of American history before the Civil War, enjoying a status of legal freedom, though often facing racial discrimination and inequality.