Your Grandmother Has Promised to Give You $2,000 at the End

question 114

Multiple Choice

Your grandmother has promised to give you $2,000 at the end of each of the next four years if you earn Cs or better in all of your courses each year. Using a discount rate of 8% and the table below, what is the present value of the gift?
$\begin{array}{|l|l|l|l|l|l|l|}\hline\text { Present } \\\text { Value of an} \\\text { Annuity of }\\\$ 1\\\hline & 5 \% & 6 \% & 7 \% & 8 \% &9 \% & 10 \% \\ \hline 1& 0.95 & 0.943 & 0.935 & 0.926 & 0.917 & 0.909 \\\hline 2& 1.859 & 1.833 & 1.808 & 1.783 & 1.759 & 1.736 \\\hline 3& 2.723 & 2.673 & 2.624 & 2.577 & 2.531 & 2.487 \\\hline 4 & 3.546& 3.465 & 3.387 & 3.312 & 3.240& 3.170 \\\hline 5 & 4.329 & 4.212 & 4.100& 3.993 & 3.890& 3.791 \\\hline\end{array}$

• A) $5,612
• B) $5,900
• C) $6,109
• D) $6,624

Know the medications primarily aimed at enhancing the effectiveness of GABA.

Understand the concept of brain circuits and their relationship with anxiety disorders.

Differentiate between phobias and common fears and their impacts on individuals' lives.

Understand the concept of profit maximization in a perfectly competitive market.

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Definitions:

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African Sculpture

African sculpture encompasses the diverse artistic traditions of the African continent, characterized by wood carvings, bronze and stone sculptures, masks, and figures, often serving both aesthetic and ceremonial functions.

Nok

An ancient civilization in West Africa known for its early ironworking technology and distinctive terracotta sculptures that date to around 1500 BC to AD 200.

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A term referring to the Sapi-Portuguese ivories, sculptural artworks created in Sierra Leone during the 15th and 16th centuries combining African and Portuguese influences.