If the Single Amount of $3000 Is to Be Received

question 8

Multiple Choice

If the single amount of $3000 is to be received in 3 years and discounted at 6% its present value is

• A) $2519.
• B) $2830.
• C) $2600.
• D) $2820.

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Definitions:

Network of Associations

A concept in cognitive psychology referring to how ideas or memories are linked together in the mind through shared qualities or experiences.

Spreading Activation Model

A cognitive model that explains how information is retrieved in the brain based on the concept of networks of connected ideas.

Memory

The faculty by which the mind stores and remembers information, allowing past experiences to influence future behavior and cognition.

Schema

A cognitive framework or concept that helps organize and interpret information in the world around us.