A sum of money amounts to $5000 in 5 years at a rate of 4% per annum. What is th

Practice Questions

Q1
A sum of money amounts to $5000 in 5 years at a rate of 4% per annum. What is the true discount?
  1. $300
  2. $400
  3. $500
  4. $600

Questions & Step-by-Step Solutions

A sum of money amounts to $5000 in 5 years at a rate of 4% per annum. What is the true discount?
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