Use This Information to Answer the Following Question What Amount Must Be Deposited Today to Grow to $450

question 61

Multiple Choice

Use this information to answer the following question. $\begin{array}{|c|c|c|}\hline \text { Periods } & \text { Present Value of } \$ 1 \text { at } 7 \text { Percent } & \begin{array}{c}\text { Present Value of Ordinary Annuity of } \$ 1 \\\text { at } 7 \text { Percent }\end{array} \\\hline 1 & 0.935 & 0.935 \\\hline 2 & 0.873 & 1.808 \\\hline 3 & 0.816 & 2.624 \\\hline\end{array}$ What amount must be deposited today to grow to $450 in three years?

• A) $331.00
• B) $367.20
• C) $171.49
• D) $420.75

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.