You Recently Won a Contest Sponsored by a Local Radio

question 174

Multiple Choice

You recently won a contest sponsored by a local radio station. The radio station will pay you $3000 at the end of each of the next 11 years. Assuming an interest rate of 3%, what is the present value of this prize? Present Value of $1
Present Value of Annuity of $1

• A)$38,424
• B)$27,759
• C)$25,590
• D)$47,811

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Definitions:

Psychohistorical Analysis

An interdisciplinary study combining psychology and history to understand historical figures' motivations or how psychological forces shape historical events.

Significant Personalities

Influential individuals whose actions, ideas, or presence have had a profound impact on society or a particular field.

Hitler

Adolf Hitler was a German political leader who became the dictator of Germany from 1933 to 1945, initiating World War II and overseeing fascist policies that resulted in millions of deaths.

Gandhi

Refers to Mahatma Gandhi, an Indian lawyer, anti-colonial nationalist, and political ethicist, who led the campaign for India's independence from British rule through nonviolent resistance.