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A dollar received today is worth less thari a dollar received in the future discounted at 1 2 % interest. more than a dollar received

A dollar received today is worth

less thari a dollar received in the future discounted at

12 %

interest.

more than a dollar received at any time in the future.

less than a dollar received in the future if the current interest rate is lower than the anticipated future interest rate.

a dollar times the future value interest rate.

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