A two-year investment of $3500 is made today at an annual interest rate of 5.75%. Which of the following statements is true?
A) The future value would be greater if the interest rate was higher.
B) The present value would be greater if the interest rate was higher.
C) The future value would be greater if the interest rate was lower.
D) The future value does not change as the interest rate changes.
Answer: A
Business
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