What Is the Present Value of an Investment at 15

question 22

Multiple Choice

What is the present value of an investment at 15% annual simple interest if it is worth $924.50 in 6 months? Round your answer to the nearest cent. ​

• A)$860.00
• B)$870.00
• C)$850.00
• D)$914.50
• E)$934.50

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Definitions:

SSE

Cumulative squared discrepancies between predicted values by a model and the corresponding actual data points.

Coefficient Of Determination

A measure used in statistical analysis that assesses how well a model explains and predicts future outcomes, represented as a value between 0 and 1.

Dependent Variable

The variable in an experiment or study that is expected to change in response to changes in another variable known as the independent variable.

Independent Variable

A variable in an experiment that is manipulated or changed by the researcher to observe its effects on the dependent variable.