Assuming they have the same (positive) expected rate of return, which of the following investments should be

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Assuming they have the same (positive) expected rate of return, which of the following investments should be cheapest?

a. One that promises to pay you $100 in five years.

b. One that promises to pay you $200 in three years.

c. One that promises to pay you $200 in five years.

d. One that promises to pay you $100 in three years.

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