You Have Just Won a Lottery That Promises to Pay

question 36

Multiple Choice

You have just won a lottery that promises to pay you and your heirs $1000 dollars a month forever. How much could you get for this stream of cash if the rate of return is 6% compounded monthly?

• A)$200,000
• B)$166,667
• C)$943,520
• D)None of the above

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Definitions:

Maladaptive

Behaviors or thought patterns that inhibit an individual's ability to adjust healthily to particular situations.

Right from wrong

The moral ability or capacity to distinguish ethical actions from unethical ones.

Self-efficacy

An individual's belief in their own ability to complete tasks and achieve goals.

Cognitive appraisal

The process of interpreting and evaluating an event or situation that leads to an emotional response.