Multiple Choice
In calculating the present value of $1,000 to be received 5 years from today, the discount factor has been calculated to be 7008.What is the apparent interest rate?
A) 5.43 percent
B) 7.37 percent
C) 8.00 percent
D) 9.50 percent discount factor =
Correct Answer:
Verified
Correct Answer:
Verified
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