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If the Interest Rate Is 5 Percent,$100 Received at the End

Question 66

Multiple Choice

If the interest rate is 5 percent,$100 received at the end of seven years is worth how much today?

A) 100/(0.05) ⁷
B) 100/(1 + 0.05) ⁷
C) 100/(1 + 5) ⁷
D) 100

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