A sum of money is invested at a certain rate of interest for 4 years. If the tru
Practice Questions
Q1
A sum of money is invested at a certain rate of interest for 4 years. If the true discount is $400, what is the present worth if the rate of interest is 5%?
$1600
$2000
$2400
$2800
Questions & Step-by-Step Solutions
A sum of money is invested at a certain rate of interest for 4 years. If the true discount is $400, what is the present worth if the rate of interest is 5%?
