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:

Fast-mapping

The rapid learning and retention of new words by children, often after a single exposure, as part of language acquisition.

Vocabulary Words

A collection of words that an individual knows and uses in communication; an essential component of language proficiency.

Unknown Person

An individual whose identity is not known or cannot be immediately recognized.

Infant

A term for a very young child or baby, typically from birth to one year of age, marked by rapid physical growth and development of motor and cognitive skills.