If the Interest Rate Is 5 Percent,$100 Received at the End

question 66

Multiple Choice

If the interest rate is 5 percent,$100 received at the end of seven years is worth how much today?

• A) 100/(0.05)⁷
• B) 100/(1 + 0.05)⁷
• C) 100/(1 + 5)⁷
• D) 100

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Definitions:

Labor Unions

Organizations that represent the collective interests of workers in negotiations with employers regarding wages, work conditions, benefits, and other aspects of employment.

Progressive Era

A period of widespread social activism and political reform across the United States from the 1890s to the 1920s, aimed at eliminating problems caused by industrialization, urbanization, immigration, and corruption in government.

Right To Sue

The legal entitlement allowing individuals or entities to bring a lawsuit against another party in a court of law.

Woodrow Wilson

The 28th President of the United States (1913-1921), known for leading the country during World War I and advocating for the League of Nations.