If Money If Worth $1,150 Now and $1,205 in 240

Multiple Choice

If money if worth $1,150 now and $1,205 in 240 days, determine the rate of return that an investor would be indifferent between the two options.

A) 9.15%
B) 8.38%
C) 8.41%
D) 7.50%
E) 7.27%