Multiple Choice
You borrow $5000 today.The loan is due in 5 years,with interest at j1 = 7%.It is agreed that you can instead pay $1000 one year from now,$X two years from now and $2000 three years from now.If money is worth j4 = 8%,what is the value of X?
A) $2599.39
B) $2648.80
C) $2788.70
D) $2794.38
Correct Answer:
Verified
Correct Answer:
Verified
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