If the Annual Rate of Interest Is 10 Percent Per

question 115

Multiple Choice

If the annual rate of interest is 10 percent per year,what is the present value of $100 received one year from now?

• A)$90.00
• B)$90.91
• C)$95.45
• D)$100.00
• E)$110.00

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Definitions:

African-Americans

A term referring to citizens or residents of the United States who have ancestry from any of the black racial groups of Africa.

Community Property

A legal framework in some jurisdictions whereby property acquired during a marriage is owned jointly by both spouses, regardless of who earned or purchased the property.

War of 1812

A military conflict between the United States and the United Kingdom and its allies, lasting from 1812 to 1815, largely over issues of trade and maritime rights.

Treaty of Greenville

A 1795 agreement between the United States and various Native American tribes which established a boundary line and aimed to end hostilities and secure rights to settlement.