A Payment of $8,000 Is Due on May 15, 2023

question 94

Multiple Choice

A payment of $8,000 is due on May 15, 2023. What was the value of this obligation on May 15, 2008 if money can earn 12% compounded quarterly between the two dates?

• A) $26,096.30
• B) $5,952.75
• C) $1,666.31
• D) $2,452.45
• E) $1,357.865

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Definitions:

Shared Ideas

Concepts or beliefs that are accepted and recognized within a community or group.

Generations

The successive groups of individuals born and living at the same time, often used to describe the differences in cultural norms and values between older and younger groups.

False News

Misinformation or fabricated information presented as news, often with the intent to mislead.

Repetition

The act or process of saying or doing something again, often used as a method for learning or emphasizing.