If Money If Worth $1,500 Now and $1,540 in 90

Multiple Choice

If money if worth $1,500 now and $1,540 in 90 days, determine the rate of return that an investor would be indifferent between the two options.

A) 12.45%
B) 11.23%
C) 10.81%
D) 9.63%
E) 8.85%