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What is the implied interest rate for the first choice

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Reference no: EM132607511

Question 1: Suppose you are offered the following investment choices:

a. You can invest $500 today and receive $600 in 5 years. The investment is considered low risk.

b. You can invest the $500 in a bank account paying 4%.

Question 2: What is the implied interest rate for the first choice and which investment should you choose?

Question 3: Suppose you want to buy some new furniture for your family room. You currently have $500 and the furniture you want costs $600. If you can earn 6%, how long will you have to wait if you don't add any additional money?

Reference no: EM132607511

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