Multiple Choice
A wealthy relative promises to give you $5000 when you complete all of the college courses needed to earn a degree in business.The present value of this future sum must be which of the following?
A) Less than $5000, but the exact value depends on how long it takes you to earn your degree and the rate of interest you can earn on investments.
B) Less than $5000, but the exact value depends on how long it takes you to earn your degree and the exchange rate for the dollar.
C) More than $5000, but the exact value depends on the exchange rate for the dollar and the rate of interest you could earn on investments.
D) More than $5000, but the exact value depends on how long it takes you to earn your degree and the rate of interest you can earn on investments.
Correct Answer:
Verified
Correct Answer:
Verified
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