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If the Present Value of $500 to Be Received in One

Question 14

Multiple Choice

If the present value of $500 to be received in one year is $463,the interest rate is

A) 5 percent per year.
B) 8 percent per year.
C) 10 percent per year.
D) 20.8 percent per year.
E) 37 percent per year.

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