Which Value Is Higher? A)$1,000 Today or B)$10,000 in 20

question 22

Short Answer

Which value is higher? a)$1,000 today or b)$10,000 in 20 years if the interest rate is 12%.

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Definitions:

Union Wages

The level of compensation agreed upon through collective bargaining between labor unions and employers, often resulting in higher wages and better benefits for union workers compared to their non-union counterparts.

Salary

A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, for the services of an employee.

Labor-market Discrimination

Differences in pay, employment opportunities, or treatment between workers based on race, gender, age, religion, or other non-skill related factors.

Illegal

Actions or activities that are forbidden by law or statute.