A contract requires payments of $2,000 and $3,000, 90 days and 120 days, respectively, from today. What is the value of the contract today if the payments are discounted to yield a rate of return of 12% simple interest?
A) $4,824.06
B) $4,828.66
C) $4,831.48
D) $4,837.87
E) $5,177.53
Correct Answer:
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