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45 - Interest & Consumption

Investing $1 for 35 years at 4 percent per annum yields approximately $2.94 in interest. The cost of consuming$1 today is therefore ______ of consumption in 35 years' time.

a) $2.94
b) $102.90
c) $3.94
d) $137.90
e) $1.94

$2.19