Multiple Choice
Dick will receive $5,000 on December 25, 2013, and $15,000 on December 25, 2014. If the yearly rate of interest is 5.0%, then the present value of these payments on December 25, 2012, is:
A) $18,367.
B) $11,666.
C) $6,250.
D) $20,000.
Correct Answer:
Verified
Correct Answer:
Verified
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