MsDunlap Has Just Won the Big Bingo Prize

question 101

Multiple Choice

Ms.Dunlap has just won the big bingo prize.She has two options for receiving her prize.She can either take a $1,050 now or two installments of $550, one now and one next year.At what interest rate would the two payments be equivalent?

• A)4.75 percent.
• B)8.25 percent.
• C)10 percent.
• D)15 percent.

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Definitions:

Peter Singer

An Australian moral philosopher known for his work on ethics, particularly animal rights and bioethics, advocating for utilitarian principles.

Health Problems

Physical or mental conditions that impair a person's normal functioning, requiring medical attention or intervention.

Prevention Measures

Strategies or actions taken to prevent or reduce the likelihood of an undesirable event or condition.

Monetary Inducements

Financial incentives offered to encourage a person to undertake an action or adopt a particular stance.