You Will Receive $5,000 a Year in Real Terms for the Next

question 69

Multiple Choice

You will receive $5,000 a year in real terms for the next 5 years. Each payment will be received at the end of the period with the first payment occurring one year from today. The relevant nominal discount rate is 9.625 percent and the inflation rate is 2.3 percent. What are your winnings worth today in real dollars?

• A) $20,413
• B) $19,367
• C) $20,781
• D) $21,500
• E) $19,137

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Definitions:

Criminal Histories

The recorded instances of an individual's criminal behavior and legal proceedings.

Fear of Crime

The concern or anxiety individuals may feel about becoming a victim of crime, which can affect quality of life and community cohesion.

Criminal Justice

A system of practices and institutions used by national and local governments aimed at maintaining social control, deterring and mitigating crime, and sanctioning those who violate laws with criminal penalties and rehabilitation efforts.

Policy Decisions

Determinations made by those in authority within organizations or governments regarding guidelines, programs, or practices.