Two Debt Payments of $2,000 Each Are Due Now and Nine

question 279

Multiple Choice

Two debt payments of $2,000 each are due now and nine months from now. If money is worth 8%, what single payment six months from now is required to settle the debt?

• A) $4,042.34
• B) $7,177.27
• C) $6,127.48
• D) $3,600.00
• E) $4,040.78

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Definitions:

Contraceptives

Methods or devices used to prevent pregnancy as a result of sexual intercourse.

Social-Cognitive Perspective

The social-cognitive perspective is an approach in psychology that emphasizes the role of cognitive processes in understanding social behavior, including how we interpret, analyze, and remember information about others and ourselves.

Genetic Influences

The contributions of genes inherited from parents to the physical and behavioral characteristics of an individual.

Unrealistic Optimism

The belief that positive events are more likely to happen to oneself than to others, often underestimating the likelihood of experiencing negative events.