Multiple Choice
If you require a 5% annual rate of return, the present value of $1,000 received three years from today is given by:
A) $1,000 x (1 +0.05) 3
B) $1,000 / (0.05) 3
C) $1,000 / (1 + 0.05) 3
D) (1 + 0.05) 3 / $1,000
Correct Answer:
Verified
Correct Answer:
Verified
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