If the Interest Rate Is 5%, $10 Received at the End

question 97

Multiple Choice

If the interest rate is 5%, $10 received at the end of 7 years is worth how much today?

• A)100/(0.05)⁷.
• B)100/(1 + 0.05)⁷.
• C)100/(1 + 5)⁷.
• D)100.

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