If the interest rate is 5 percent,what is the present value of a payment of $500 to be made one year from today?
A) $457.14
B) $475.00
C) $480.77
D) None of the above are correct to the nearest cent.

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The Answer of If the interest rate is 5 percent,what is the present value of a payment of $500 to be made one year from today?
A) $457.14
B) $475.00
C) $480.77
D) None of the above are correct to the nearest cent.

If the Interest Rate Is 5 Percent,what Is the Present