Assume Your Friend Will Pay You $200 for Each of the Next

question 39

Multiple Choice

Assume your friend will pay you $200 for each of the next two years and $400 in years 3 and these amounts will be paid at year end.Assume the interest rate is 10% for the first two years and 12% for the next two (years 3 and 4) .What is your friend's promise worth in today's dollars? (Round your answer)

• A)$1,000
• B)$951
• C)$906
• D)$831
• E)$600

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Definitions:

Career Success

Achieving personal and professional goals and milestones in one's career, often characterized by advancements, recognition, and fulfillment.

Continuous Learning

The ongoing process of acquiring new knowledge or skills throughout an individual's life or career for personal or professional development.

Professional Development

The process of improving and increasing capabilities of staff through access to education and training opportunities in the workplace, through external organizations, or through watching others perform the job.

Career Potential

The capacity of an individual to grow and succeed in their professional path, considering their skills, ambitions, and opportunities.