Given the following end-of-year cash flows, what is the implicit discount rate if the PV...
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Finance
Given the following end-of-year cash flows, what is the implicit discount rate if the PV is $2,020?
| Year | Cash Flow |
| 1 | $500 |
| 2 | $750 |
| 3 | $1,000 |
Choose one of the following answers
4.50%
4.80%
5.00% This is correct but how do we know?
5.40%
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