You have a choice among three options.Option 1: receive $900 immediately.Option 2: receive $1,200 one year from now.Option 3: Receive $2,000 five years from now.The interest rate is 15 percent (0.15) per year.Rank these three options from highest present value to lowest present value.
A) Option 1,Option 2,Option 3
B) Option 3,Option 2,Option 1
C) Option 2,Option 3,Option 1
D) Option 3,Option 1,Option 2
E) Option 1,Option 3,Option 2
Correct Answer:
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