Which is worth more: (a) $500 today, (b) $1,000 in 9 years if the interest rate is

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Which is worth more:

(a) $500 today,

(b) $1,000 in 9 years if the interest rate is 8 percent?

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Mar 01, 2024 11:00 PM

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Which is worth more: (a) $500 today, (b) $1,000 in 9 years if the interest rate is

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Due to the time value of money 500 today is worth more than 1000 in 9 years if the i...View the full answer

Microeconomics

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