Multiple Choice
You borrow $2500 today.The loan is due in 5-years,with interest at j2 = 8%.It is agreed that you can instead pay $X two years from now and $1500 three years from now.If money is worth j12 = 6%,what is the value of X?
A) $1679.54
B) $1537.81
C) $1405.04
D) $675.25
Correct Answer:
Verified
Correct Answer:
Verified
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