If $1,000 Received a Year from Today Is Equivalent to $926

question 57

Multiple Choice

If $1,000 received a year from today is equivalent to $926 received today,the rate of interest is ________ percent.

• A) 10
• B) 9.3
• C) 8
• D) 7.4
• E) 6

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Definitions:

Manufacturing Business

A company engaged in the industrial production of goods from raw materials using various processes, machinery, and operations.

Business Plans

Detailed documents outlining the strategy, goals, and operational plans of a business.

Projected Profit-and-Loss Statement

A financial document estimating a company's revenue, costs, and net profit over a future period.

Financial Knowledge

Understanding of financial concepts, practices, and instruments, often linked to personal financial planning and investment decisions.