You Have Been Told That You Need $15,000 Today for Every

Multiple Choice

You have been told that you need $15,000 today for every $50,000 you want when you retire 30 years from now.What rate of interest was used in the present value computation? Assume interest is compounded annually.

A) 4.09 percent
B) 4.15 percent
C) 4.37 percent
D) 4.29 percent
E) 4.53 percent