Using the Following Partial Table of Present Value of $1

question 53

Multiple Choice

Using the following partial table of present value of $1 at compound interest, determine the present value of $30,000 to be received three years hence, with earnings at the rate of 12% a year:

• A) $14,240
• B) $16,800
• C) $21,360
• D) $15,840

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Definitions:

Operant Conditioning

A method of learning where behavior is altered by either enforcing it positively or disciplining through consequences.

Child

A young human being below the age of puberty or below the legal age of majority.

Voluntary Responses

Behaviors that are under conscious control, typically as a result of conscious decision making.

Thorndike

Edward Thorndike was an influential psychologist known for his work on learning theory and the Law of Effect.