(A)What Is the Present Value of $32,000 Due 7 Years

question 256

Essay

(a)What is the present value of $32,000 due 7 years from now, discounted at 8%?
(b) What is the present value of $70,000 due 5 years from now, discounted at 15%?

Understand the timing and causes of mass extinctions, including the role of human activities.

Recognize the diversity and evolutionary history of life on Earth, from microbial life to megafauna.

Identify factors contributing to species extinction and the conservation status of current species.

Explore the evidence for pre-Cambrian life and the significance of the Cambrian explosion.

---

Definitions:

Opportunity Cost

The benefit missed out on when choosing one alternative over another, emphasizing the impact of choice on resource allocation.

Limited Resources

The finite availability of inputs such as labor, materials, and capital, which restricts production capabilities and economic growth.

Unlimited Wants

The concept in economics that human desires for goods and services exceed the available resources, leading to perpetual states of decision making and prioritization.

Economizing Behavior

The tendency of individuals or organizations to attempt to minimize costs or expenses and maximize value.