The Price of an Antique Is Expected to Rise by 8

question 34

Multiple Choice

The price of an antique is expected to rise by 8% during the next year.The interest rate is 12%.You are thinking of buying an antique and selling it a year from now.You would be willing to pay a total of 800 dollars for the pleasure of owning the antique for a year.How much would you be willing to pay to buy this antique?

• A)6,666.67 dollars
• B)20,000 dollars
• C)800 dollars
• D)16,800 dollars
• E)8,000 dollars

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