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

Question 19

Multiple Choice

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

A) 500*(1+.11) 12
B) 500/(1 + .11) 12
C) 500/(1 + 11) 12.
D) 500

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