The Price of an Antique Is Expected to Rise by 6

question 14

Multiple Choice

The price of an antique is expected to rise by 6% during the next year.The interest rate is 7%.You are thinking of buying an antique and selling it a year from now.You would be willing to pay a total of 600 dollars for the pleasure of owning the antique for a year.How much would you be willing to pay to buy this antique? (See Problem 5.)

• A)12,600 dollars
• B)60,000 dollars
• C)600 dollars
• D)8,571.43 dollars
• E)6,000 dollars

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Definitions:

Outer Layers

Pertains to the exterior surfaces or coatings of an object, material, or biological entity, often protecting or enclosing more sensitive inner structures.

Brain

The complex organ located in the skull responsible for thought, memory, emotion, touch, motor skills, vision, breathing, temperature, hunger, and every process that regulates our body.

Cortex

is the outermost layer of the brain, involved in complex functions such as perception, thought, and voluntary movement.

Impulse Control

The ability to regulate and manage desires or urges to act impulsively, often developed over time as part of emotional and cognitive maturation.