Why is a reinvestment rate implicitly assumed whenever we find the present value of a future cash
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Why is a reinvestment rate implicitly assumed whenever we find the present value of a future cash flow? Would it be possible to find the PV of a FV without specifying an implicit reinvestment rate?
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Related Book For 
Financial Management Theory And Practice
ISBN: 9781439078105
13th Edition
Authors: Eugene F. Brigham, Michael C. Ehrhardt
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