If the Nominal Interest Rate Is 20% Per Year,how Much

question 55

Multiple Choice

If the nominal interest rate is 20% per year,how much money can an individual borrow today if she wants to repay $100 in one year?

• A)$80.00
• B)$83.33
• C)$120.00
• D)$78.00
• E) $121.00

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