Question: Finding the implicit interest rate. What is the interest rate that make you indifferent between $1,000 in one year and $1,180 in three years? I

Finding the implicit interest rate. What is the interest rate that make you indifferent between $1,000 in one year and $1,180 in three years? I have received two answers when I searched for this question in Chegg. One answer is 8.63, and the other is 7.08. Which is correct.

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