If Interest Rates Are 8

question 40

Multiple Choice

If interest rates are 8.21% per annum,compounded annually,the present value of $31 000 received at the end of three years is:

• A) $2819.17
• B) $9549.33
• C) $24 465.80
• D) $28 647.99

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Definitions:

European Powers

Countries in Europe with significant political, military, or economic influence.

Berlin

The capital and largest city of Germany, known for its history, culture, and architecture.

Colonialism

The strategy or approach of gaining complete or partial political dominance over a different nation, settling it with colonizers, and utilizing it for economic gain.

European Empires

Refers to the dominions, colonies, and territories under the control of European countries that were established from the late 15th century onwards.