You Are Scheduled to Receive $30,000 in Three Years

question 177

Multiple Choice

You are scheduled to receive $30,000 in three years. When you receive it, you will invest it for seven more years at 5.5% per year. How much will you have at the end of this time? What would be an equivalent Present Value?

• A) $29,548
• B) $28,548
• C) $27,548
• D) $26,548
• E) $25,548

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Definitions:

Auditory

Relating to the sense of hearing or the sound-processing system of the body.

Template Matching

A technique in pattern recognition where a predefined template or model is compared to potential matches in order to identify objects or patterns.

Prototype Matching

A cognitive process of comparing a stimulus with a mental representation of the best example of a particular category.

Stencil

A sheet of material with a design cut out of it, used to produce the design on an underlying surface by applying ink or paint through the cut-out areas.