Question
what was the formula used here? --What rate of return results in a present value of $432 for $250 received one year from now and
what was the formula used here?
--What rate of return results in a present value of $432 for $250 received one year from now and another $250 received two years from now?
A) 9.89%
B) 10.32%
C) 10.94%
D) 11.37%
Answer:C
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
