Multiple Choice
John says that the future value of $250 saved for one year at 6 percent is less than the future value of $250 saved for two years at 3 percent.George says that the present value of a $250 payment in one year when the interest rate is 6 percent is less than the value of a $250 payment in two years when the interest rate is 3 percent.
A) John and George are both correct.
B) John and George are both incorrect.
C) Only John is correct.
D) Only George is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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