A discount factor of = 0.95 implies: A discount factor of = 0.95 implies: That a person is indifferent to equal choice 95% of the time, irrespective of the time period That 95% of a person's investment choices will be within a 5% error That a person values money in the next period only 95% as much as they value the same amount of money in the current period That a person values money in the current period only 95% as much as they value the same amount of money in the next period