A Judge Requires Harry to Make a Payment to Sally

question 105

Multiple Choice

A judge requires Harry to make a payment to Sally.The judge says that Harry can pay her either $10,000 today or $12,000 two years from today.Of the following interest rates,which is the highest one at which Harry would be better off paying the money today?

• A)4 percent
• B)6 percent
• C)9 percent
• D)11 percent

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Definitions:

African-American

A term used to describe Americans of African descent with ancestry primarily linked to African countries.

Native American

Refers to the indigenous peoples of the United States, including their cultures, histories, and current challenges.

Middle-aged

A term used to describe individuals who are in the middle phase of life, typically between the ages of 45 and 65.

Autosomal Dominant

A pattern of inheritance in which an affected individual has one copy of a mutant gene and one normal gene on a pair of autosomal chromosomes.