If $476 invested today yields $500 in one year's time, what is the discount rate?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 4QTD
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If $476 invested today yields $500 in one year's time, what is the discount rate?

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