[Solved] Suppose That the Current Price of Oil Is $60 a Barrel

Question 64
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Suppose that the current price of oil is $60 a barrel and the present interest rate is 3%.Further,suppose that the interest rate remains unchanged and no new discoveries of oil are made.If the economist for the National Petroleum company believes that the rate of oil extraction is exactly right,what should be the price for a barrel of oil one year from now?


A)$60
B)$61.8
C)$63
D)$65.5

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