Multiple Choice
A bank lends some money to a business. The business will pay the bank a single payment of $176,000 in ten years' time. How much greater is the present value (PV) of this payment if the interest rate is 9% rather than 8%?
A) $7178
B) $5742
C) $8613
D) $10,049
Correct Answer:
Verified
Correct Answer:
Verified
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