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An investor can invest $1000 at the start of a certain year,then $1000 the end of that year and the next year in a certain business.The business guarantees that the investor will receive a payment at the end of the year in five years.What is the future value (FV) of that payment if the investor is to break even,given that the discount rate over those five years is 6% per year?
Caste System
A traditional form of social stratification found in some countries, notably India, characterized by hereditary transmission of lifestyle, occupation, and social status.
Stratification System
A social structure that divides society into different layers based on socio-economic status, race, ethnicity, or gender.
Ascribed Status
A social position assigned at birth or involuntarily later in life, based on factors like race, family background, and so on, over which the individual has no control.
Class System
The organized pattern of social class in society.
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