The State Lottery Has Just Informed You That You Have

question 72

Multiple Choice

The state lottery has just informed you that you have won $1 million to be paid out in the amount of $50,000 per year for the next 20 years. With a discount rate of 12%, what is the present value of your winnings?

• A) $221,950
• B) $398,150
• C) $373,450
• D) $392,150

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Definitions:

Ideoscapes

Coined by Arjun Appadurai, referring to the global flow of ideas, ideologies, and images that shape political and ideological movements.

Arjun Appadurai

A contemporary social theorist particularly known for his work on globalization, focusing on the cultural dynamics of global economic and political changes.

Political Information

Information related to government policies, political ideologies, elections, political movements, and leaders.

Global Capitalist Class

The global capitalist class refers to a social group comprised of individuals and entities at the top of the capitalist system who hold significant economic power and influence across the world.