Restate the Fact as Indicated

question 11

Multiple Choice

Restate the fact as indicated.
-The national debt was about $6.9 trillion at the end of 2003. Express this quantity as the number of dollars per person. Assume a U.S. population of 280 million.

• A)About $246.43 per person
• B)About $24,642.86 per person
• C)About $246,428.57 per person
• D)About $2464.29 per person

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Definitions:

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return.

Lease Payments

Periodic payments made by a lessee to a lessor for the use of an asset over a specified lease term.

Net Present Value

A financial metric used to evaluate the profitability of an investment, calculated by subtracting the present value of cash outflows from the present value of cash inflows.

Capital Budgeting

The process of planning and managing a firm’s investment in long-term assets.