(Answered) 1 a business acquaintance promises to deliver a 20 bill to

Finance

1. A business acquaintance promises to deliver a $20 bill to you one year from today. How much should you be willing to pay today for this promise?

More than $20
Exactly $20
Less than $20

2. What is the present value of $1,000 received three years from today if interest rates are currently 6 percent?

$943.40
$839.62
$1,191.02
$1,000.00

3. What is the interest rate on a three-year investment with a future value of $1000 and a present value of $863.84?

5%
10%
7.36%
2.54%

4. The product rule of exponents says that when multiplying two powers that have the same base, you need to ________.

divide the exponents
add the exponents
multiply the exponents
subtract the exponents

5. The fifth root of fifteen is equal to ________.

15 raised to the power of 15
one fifth of 15
15 raised to the power of 1/5
one fifteenth of 15

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