The Present Value of $1,000 Received at the End of Year

question 63

Multiple Choice

The present value of $1,000 received at the end of year 1, $1,200 received at the end of year 2, and $1,300 received at the end of year 3, assuming an opportunity cost of 7 percent, is

• A)$2,500.
• B)$3,043.
• C)$6,516.
• D)$2,856.

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Definitions:

Personological Approach

A branch of psychology that studies personality as an individual's distinct patterns of thinking, feeling, and behaving, focusing on personal history and life narrative.

Criminal Profiling

The process of identifying probable characteristics of a criminal based on crime scene analysis, victim interactions, and other behavioral patterns.

Henry Murray

An American psychologist who developed the theory of needs, which identified personality in terms of motives and needs.

Self-Efficacy

A person's confidence in their ability to carry out actions required to achieve particular outcomes.