Multiple Choice
The formula for finding the present value of an amount M that will be received one year from now, when the interest rate is R, is
A) M × (1 + R/100) .
B) M × (1 + R) .
C) M / (1 + R) .
D) M / R.
E) M / (100R) .
Correct Answer:
Verified
Correct Answer:
Verified
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