What Is the Present Value of a Payment of $150

question 180

Multiple Choice

What is the present value of a payment of $150 one year from today if the interest rate is 6 percent?

• A)$141.11
• B)$141.36
• C)$141.75
• D)None of the above are correct to the nearest penny.

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Definitions:

Learner Made Mistake

A situation where a person who is in the process of learning something does something incorrectly.

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A social psychology concept where an individual conforms to the opinions or behaviors of a group, believing the group has accurate information.

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The influence exerted by a social group or society on an individual to change their behavior, values, or beliefs to conform to group norms.

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