Using the Following Partial Table of Present Value of $1

question 59

Multiple Choice

Using the following partial table of present value of $1 at compound interest, the present value of $15,000 to be received 3 years hence with earnings at the rate of 6% a year is $$\begin{array} { l l l l } \text { Year } & 6 \% & 10 \% & 12 \% \\\hline 1 & 0.943 & 0.909 & 0.893 \\2 & 0.890 & 0.826 & 0.797 \\3 & 0.840 & 0.751 & 0.712 \\4 & 0.792 & 0.683 & 0.636\end{array}$$

• A) $12,600
• B) $11,880
• C) $13,350
• D) $11,265

Understand the principles of statistical significance in research findings.

Learn the importance of replication studies in research verification.

Understand the strategic and political decisions made by leaders during World War II.

Recognize the major battles and turning points of World War II in Europe.

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Definitions:

Lump Sum

A single payment made at a particular time, as opposed to a series of periodic payments.

Lump Sum Payment

A single, one-time payment made for a purchase or to settle a debt, as opposed to installments.

Annuity Due

A type of annuity in which payments are made at the beginning of each period, rather than at the end.

Present Value

The present worth of a sum of money or a series of cash flows expected in the future, assuming a certain rate of return.