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If the Interest Rate Is 11%,$1500 Received at the End

Question 7

Multiple Choice

If the interest rate is 11%,$1500 received at the end of 12 years is worth how much today?

A) 1500*(1+0.11) ^12
B) 1500/(1 +0 .11) ^12
C) 1500/(1 + 11) ^12
D) 1500

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