It is a fact that (1 + 0.12)3 = 1.40. Knowing that to be true, what is

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It is a fact that (1 + 0.12)3 = 1.40. Knowing that to be true, what is the present value of $140 received in three years if the annual interest rate is 12 percent?

a. $1.40

b. $12

c. $100

d. $112

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Macroeconomics

ISBN: 9781264112456

22nd Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Mar 02, 2024 01:00 PM

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It is a fact that (1 + 0.12)3 = 1.40. Knowing that to be true, what is

Question:

Step by Step Answer:

The correct answer is c 100 Heres why Even though th...View the full answer

Macroeconomics

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