You Have Just Received Notification That You Have Won the $1.4

question 43

Multiple Choice

You have just received notification that you have won the $1.4 million first prize in the Centennial Lottery.However,the prize will be awarded on your 100^th birthday,78 years from now.The appropriate discount rate is 8 percent.What is the present value of your winnings?

• A)$3,288.16
• B)$3,459.99
• C)$5,309.91
• D)$13,333.33
• E)$25,000.00

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Definitions:

Creative Problem Solving

An approach to finding innovative solutions to complex problems through creativity, lateral thinking, and brainstorming.

Illumination

The process or result of making something visible or bright with light, or clarifying something by explaining it.

Brainstorming

A collaborative idea-generating activity aimed at finding a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.

Nominal Group Technique

Nominal Group Technique is a structured method for group brainstorming that encourages contributions from all participants, often used in decision-making.