If the Interest Rate Is 7 Percent,$500 Received at the End

question 29

Multiple Choice

If the interest rate is 7 percent,$500 received at the end of nine years is worth how much today?

• A) 500/(0.07)⁹
• B) 500/(1 + .07)⁹
• C) 500/(1 + 7)⁹
• D) 500

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Definitions:

Team Goals

Objectives set by a group collaborating towards a common achievement, which guide the team's direction and efforts.

Storming

A phase during which, after a period of time, tension may arise between members and different personalities might clash, leading to tension and conflict in the team.

Different Personalities

Variability in individual characteristics, traits, and habits that distinguish one person from another.

Forming

A process whereby team members meet for the first time, get to know each other, and try to understand where they fit into the team structure.