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You Just Won the Lottery

question 91

Multiple Choice

You just won the lottery.You have a choice of three different prize options.
Option #1: receive $1,200 immediately;
Option #2: receive $1,500 a year from now;
Option #3: receive $1,800 five years from now.
If the interest rate is 15% the ranking of the options,from the lowest present value to the highest is

Definitions:

Cognitive Capacities

The mental abilities or processes that are part of human cognition, such as memory, reasoning, and perception.

Primitive Thought

Early stage cognitive processes that are not refined or sophisticated, often relying on basic instincts and immediate responses rather than logical analysis.

Prototype

An original model or first form of something from which later versions are developed or copied.

Key Attributes

Essential qualities or features that define and differentiate an object, concept, or person.