Multiple Choice
The present value of $475 received 3 years in the future would be calculated as which of the following when the interest rate is 6 percent?
A) 475/(1.6) 3
B) 475/(1.06) 3
C) 475 × 1.6 × 3
D) 3.06/475
Correct Answer:
Verified
Correct Answer:
Verified
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