What Is the Present Value of $1 Million Payable in 90

question 53

Multiple Choice

What is the present value of $1 million payable in 90 days at 8.00% per annum simple interest?

• A) $835 240.27
• B) $974 372.66
• C) $980 655.56
• D) $1 002 747.25

Analyze the impact of expectations on short-run economic outcomes.

Discuss the concept of potential output and factors that influence it.

Recognize how actual price levels compared to expected price levels affect economic decisions and outcomes.

Understand the implications of expansionary and recessionary gaps in the short-run.

---

Definitions:

Hurricane Katrina

A devastating Category 5 hurricane that struck the Gulf Coast of the United States in August 2005, causing widespread destruction, particularly in the city of New Orleans.

New Orleans

A major United States port and the largest city and metropolitan area in the state of Louisiana, known for its distinct music, Creole cuisine, unique dialects, and annual celebrations and festivals, most notably Mardi Gras.

Causes Of Poverty

Various factors including unemployment, lack of education, and socio-economic policies that lead to insufficient income and resources.

Alleviate Poverty

Measures and efforts taken to reduce or eliminate the incidence of poverty and improve the living conditions of those affected by it.