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

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2. 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? LO37.2

a. $1.40.

b. $12.

c. $100.

d. $112.

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Economics

ISBN: 9781259723223

21st Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Sep 30, 2024 10:04 AM

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

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Economics

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