You Are Offered Payments of $475 at the End of Each

question 104

Multiple Choice

You are offered payments of $475 at the end of each semi-annual period for 6.5 years. You think that the cost of money is 6.14% compounded semi-annually. What is the present cash value?

• A) $5092.06
• B) $5029.06
• C) $5209.06
• D) $5292.06
• E) $5290.06

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Definitions:

Reward

A benefit, often in the form of compensation, recognition, or appreciation, that is given for some form of achievement or behavior.

Employee Morale

The overall satisfaction, outlook, and feelings of well-being that an employee holds within the workplace.

Minimum Salary

The lowest legal remuneration that employers can pay their employees; often set by government laws.

Team Network

A closely connected group of individuals who collaborate and share information to achieve common goals.