Multiple Choice
A debt of $5700 is due,with interest at j2 = 8%,in three years.It is agreed instead that the loan will be repaid with a payment of $X in one year and $3000 in two years.If money is worth j4 = 4%,what is the value of X?
A) $3282.18
B) $3348.50
C) $3391.45
D) $3777.51
Correct Answer:
Verified
Correct Answer:
Verified
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