A Payment of $5000 That Was Due 20 Days Ago

question 88

Multiple Choice

A payment of $5000 that was due 20 days ago and another payment of $4000 that is due 50 days from now are to be settled/replaced by a payment of $6000 today and a payment of $X 90-days from today.If r = 11%,what is the value of X using today as the focal date?

• A)$3051.33
• B)$3008.81
• C)$3001.67
• D)$2892.31

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Definitions:

Morally Legitimate

Considered ethically acceptable or justifiable according to moral principles or ethical standards.

Informed Consent

A process by which a person voluntarily confirms their willingness to participate in a particular activity, after being informed of all the risks, benefits, and alternatives.

Phase I Clinical Trials

The first stage of clinical trials for new drugs or treatments, primarily concerned with assessing safety and dosage in a small group of people.

Dosage

Dosage refers to the size, frequency, and number of times a medication or drug should be taken to achieve its intended effect.