Solve the Problem

question 384

Multiple Choice

Solve the problem. Express the answer in scientific notation to two decimals unless requested otherwise.
-If the speed of light is m/sec, how long does it take light to travel m, the distance from the sun to Mars?

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Definitions:

Payback Period

The duration of time it takes for an investment to generate enough revenue to recover the initial cost of the investment.

Profitability Index

A measure used in capital budgeting to evaluate the profitability of an investment, calculated as the present value of future cash flows divided by the initial investment cost.

Discount Rate

The interest rate charged to commercial banks and other depository institutions for loans received from the Federal Reserve's discount window.