Multiple Choice
If $1,000 is invested at 3 percent per year for 10 years the investment grows to $1,343.92. This means the present value $1,343.92 at an interest rate of 3 percent 10 years from now is
A) 3 percent.
B) 1.34 percent.
C) $1,000.
D) $343.92.
Correct Answer:
Verified
Correct Answer:
Verified
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