Two Payments of $8,000 in 60 Days and $5,000 in 90

question 221

Multiple Choice

Two payments of $8,000 in 60 days and $5,000 in 90 days are to be replaced by a payment now and another payment of $2,500 in 30 days. If interest is 7.3% annually, determine the value of the payment now.

• A) $10,658.12
• B) $10,522.44
• C) $10,485.31
• D) $10,331.64
• E) $10,280.48

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Definitions:

Imperialism

The policy or practice of extending a country's power and influence through colonization, use of military force, or other means.

Nation's Economy

A nation's economy encompasses the system of production, distribution, and consumption of goods and services within a particular country, reflecting its wealth and development.

Global Commodity Chain

The worldwide network of production and distribution processes through which a product passes until it reaches the consumer.

Transnational Commodification

The process by which goods, services, or ideas are marketed and sold across national borders, turning them into commodities within the global marketplace.