A bank lends some money to a business. The business will pay the bank a single payment of$189,000 in ten years time. How much greater
A bank lends some money to a business. The business will pay the bank a single payment of$189,000 in ten years time. How much greater is the present value (PV) of this payment if the interest rate is 10% rather than 9%?
A: $8362
B: $6968
C: $9755
D: $5574
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Authors: Anthony Saunders, Marcia Cornett
8th Edition
1264098723, 978-1264098729
