Multiple Choice
You borrow $2000 today.This loan is due in 3-years with interest at j1 = 9%.It is agreed that you will instead pay $1000 one-year from now and $X two-years from now.If money is worth j2 = 6%,what is the value of X?
A) $1190.12
B) $1286.20
C) $1380.48
D) $1529.16
Correct Answer:
Verified
Correct Answer:
Verified
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