I Spend $60 Per Month on Bus Fares to Work

question 16

Multiple Choice

I spend $60 per month on bus fares to work. One day I decide to buy a mountain bike for $1680 and to ride to work instead. Assuming I work 12 months in a year, and my MARR is 1% per month, compounded monthly, what is the discounted payback time for this investment?

• A)two years five months
• B)two years seven months
• C)two years eight months
• D)two years nine months
• E)two years ten months

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Definitions:

Social Referencing

The process by which individuals look to others in their environment for cues on how to respond or behave in uncertain situations.

Causes Of Child Abuse

Factors and conditions that contribute to the maltreatment of children, including physical, emotional, sexual abuse, and neglect.

Deepest Stage

In the context of sleep, refers to the phase known as slow-wave sleep (stage 3), characterized by deep physical relaxation and difficult-to-arouse sleep.

Bed-Wetting

Failure to control the bladder during the night.