Miller's Hardware Plans on Saving $42,000, $54,000, and $58,000 at the End

question 108

Multiple Choice

Miller's Hardware plans on saving $42,000, $54,000, and $58,000 at the end of each year for the next three years, respectively.How much will the firm have saved at the end of the three years if it can earn 4.5% by reinvesting its saving?

• A)$160,295.05
• B)$158,098.15
• C)$167,508.33
• D)$165,212.57

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Definitions:

Operant Conditioning

A learning method that uses rewards and punishments to shape behavior.

Unpleasant Consequence

A negative outcome or result that follows a specific action or condition.

Negative Reinforcement

A process in behavioral psychology where the removal of an undesirable outcome strengthens the behavior leading to its removal.

Expectations

Beliefs or forecasts about future events, which can significantly influence current behavior and decision-making processes.