Calculate Answers to the Following Questions Using Future Value And/or

question 54

Essay

Calculate answers to the following questions using future value and/or present value tables.
a. Tally purchased machinery by executing a $30,000 non-interest-bearing note due in four years. For how much should the machinery be recorded, assuming that the going rate for similar notes is 6 percent?
b. Mindy Kwon is making bank deposits of $3,000 at the end of each year for five years, for purposes of buying a car. Assuming an interest rate of 7 percent, how expensive car will she be able to purchase?
c. To how much will $2,000 grow, assuming it is invested for 2-1/2 years, with interest of 8 percent, compounded quarterly?
d. Liz Astor would like to make a lump-sum deposit today so that she can withdraw $10,000 at the end of each year for the next three years. Assuming a 9 percent interest rate, what should she invest today?

Acknowledge the influence of external cues on experimental outcomes, illustrated by the Clever Hans effect.

Understand the significance and application of different types of studies in psychological research (longitudinal, cross-cultural, double-blind, etc.).

Recognize the importance and role of placebos in psychological research.

Identify the challenges and biases (e.g., experimenter bias, demand characteristics) that can affect the validity of research.

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