Two Payments of $10 000 Each Must Be Made One

question 54

Multiple Choice

Two payments of $10 000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?

• A) $10 938
• B) $8358
• C) $11 964
• D) $22 902
• E) $19 296

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Definitions:

Play Result

The outcome or impact of engaging in play, often related to children's developmental, social, or educational gains.

Sense of Initiative

The motivation or drive to take action or steps towards fulfilling goals or engaging in creative problem-solving.

Zone of Proximal Development

A concept in educational psychology introduced by Lev Vygotsky, referring to the difference between what learners can do without help and what they can achieve with guidance and encouragement from a skilled partner.

Vygotsky

A Soviet psychologist known for his work on cognitive development, especially the concept of the zone of proximal development and the importance of social learning.