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question 141

Multiple Choice

[The following information applies to the questions displayed below.]
The financial statements of New World,Inc. ,provide the following information for the current year:

-Compute the amount of cash received from customers during the current year.

• A)$3,097,500
• B)$3,129,000
• C)$3,066,000
• D)$3,612,000

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Definitions:

Annuity

A monetary product offering a stable payout to an individual, predominantly aimed at supplying income to retirees.

Periodic Payments

Payments made regularly over a specified period, such as monthly rent or loan repayments.

Nominal Rate

The stated interest rate on a loan or investment, not accounting for compounding or inflation effects.

Present Value

The actual value of future money amounts or incoming cash flows, calculated using an established return rate.