If the interest rate is 10%,then $1 today is worth how much one year from now?
A)$1.10
B)$1
C)91¢
D)90¢

Name: If the interest rate is 10%,then $1 today is worth how much one year from now? A)$1.10 B)$1 C)91¢ D)90¢
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Question

Quizplus · Accepted Answer

The value of $1 one year from now with 10% interest rate will be $1.10 since the interest earned on $1 at 10% for one year is $0.10 and adding this interest to the principal gives us a total of $1.10.

If the Interest Rate Is 10%,then $1 Today Is Worth