At an Annual Interest Rate of 7%,the Present Value of $5000

question 5

Multiple Choice

At an annual interest rate of 7%,the present value of $5000 received in five years is closest to:

• A)$3565.
• B)$6750.
• C)$7015.
• D)$7035.

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Definitions:

Self-Serving Bias

The common tendency to attribute one's successes to personal characteristics and failures to external factors.

Very Smart

A term often used to describe individuals with high intellectual capabilities or talented in a particular area.

Fundamental Attribution Error

The tendency to attribute others' behaviors to their character or personality while underestimating the influence of external factors.

Illusory Correlation

The belief in a connection between two factors when in reality, there is no such link.