$7,500 Was Due 3 Months Ago

question 217

Multiple Choice

$7,500 was due 3 months ago. It is now to be repaid in three equal payments in 4, 8 and 10 months from now. If interest is 3.85% annually, determine the value if the focal date is in 4 months.

• A) $2,583.98
• B) $2,678.32
• C) $2,781.42
• D) $2,934.55
• E) $3,122.68

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Definitions:

Competitive Forces

External factors that influence the competitive position of a firm in an industry, including competition, customers, new entrants, substitutes, and suppliers.

Employment Discrimination

Unfair or unequal treatment of employees or job applicants based on characteristics like race, gender, age, or disability.

Earnings Differential

The difference in earnings between two or more groups, typically based on factors such as education, experience, occupation, or gender.

Mean Earnings

The average income earned by an individual, group, or population within a specified time period, calculated by dividing the total income by the number of earners.