A Judge Requires Harry to Make a Payment to Sally

question 178

Multiple Choice

A judge requires Harry to make a payment to Sally.The judge says that Harry can pay her either $10,000 today or $11,000 two years from today.Of the following interest rates,which is the highest one at which Harry would be better off paying the money today?

• A)3%
• B)4%
• C)5%
• D)6%

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