If Money Is Worth 14 %, What Payment on August

question 144

Multiple Choice

If money is worth 14 %, what payment on August 29 would be equal in value to a payment of $86,900 due on January 31 of the following year?

• A) $74,734
• B) $92,066
• C) $81,734
• D) $76,519
• E) $82,024

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Definitions:

Electrical Engineering

A branch of engineering that deals with the study, design, and application of equipment, devices, and systems which use electricity, electronics, and electromagnetism.

Grapevine

Informal channels of communication within an organization, often characterized by rumors and unofficial information.

Rumor

Information or a story that is circulated from person to person but has not been proven to be true.

Aerospace Industry

The sector engaged in the research, design, manufacture, operation, and maintenance of aircraft and spacecraft.