A business promises to pay the investor of $6000 today for a payment of $1500 in one year's time, $3000 in two years' time, and $3000 in three years' time. What is the present value of this business opportunity if the interest rate is 6% per year?
A) $603.94
B) $301.97
C) $724.73
D) $966.30
Correct Answer:
Verified
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