Compare the Economic Values of Two Options Given an Annual

question 166

Multiple Choice

Compare the economic values of two options given an annual rate of 9.25%. Option 1 - $900 in 5 months and $400 in 9 months. Option 2 - $550 in 7 months and $825 in 10 months. Given the following information, choose the best option.

• A) Option 1 - benefit of $52.35
• B) Option 1 - benefit of $47.15
• C) No difference between options
• D) Option 2 - benefit of $52.35
• E) Option 2 - benefit of $47.15

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Definitions:

Caribbean Island

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Tower Commission

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Part of the Iran-Contra affair, where U.S. Marine Lt. Col. Oliver North was involved in the sale of arms to Iran with the intention of funding Contra rebels in Nicaragua during the 1980s.