Your Textbook Costs $90, and You Can Resell It in One

question 161

Multiple Choice

Your textbook costs $90, and you can resell it in one year for $45. If the annual interest rate is 10%, then the present value of the textbook's resale value (to the nearest dollar) is:

• A) $90.
• B) $41.
• C) $45.
• D) $37.

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Definitions:

Reflexive Response

An automatic reaction to a stimulus, not under conscious control, often protecting the body from harm or promoting its physiological well-being.

Neutral Stimulus

A stimulus that initially produces no specific response other than focusing attention, until it is paired with an unconditioned stimulus.

Classical Conditioning

A learning process in which a neutral stimulus becomes associated with an inherently meaningful event or stimulus, eliciting a conditioned response.

Turned Off

A colloquial term describing a lack of interest or a state of disinclination towards something.