The Present Value of a Future Payment to Be Received

question 73

Multiple Choice

The present value of a future payment to be received in three years is $1,000.If the interest rate is 5%,what is the amount that will be paid in three years?

• A)$1,150.00
• B)$1,157.63
• C)$1,215.51
• D)$1,250.00

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Definitions:

Modern War

Warfare involving the large-scale use of advanced technology and tactics, significantly different from traditional or early forms of conflict.

Independence

The condition of a nation, country, or state which exercises self-governance and sovereignty over its territory, free from external control.

Thomas Paine

An influential 18th-century writer and revolutionary thinker, whose works, like "Common Sense," inspired American colonists to seek independence from Britain.

Samuel Seabury

An American Episcopal bishop and loyalist during the American Revolutionary War, known for his debates and writings in support of British rule.