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(a) Explain what a PVIF (present value interest factor) of 0.7513 for three years, 10 percent means in clear but simple terms. (b) How would

  1. (a) Explain what a PVIF (present value interest factor) of 0.7513 for three years, 10 percent means in clear but simple terms. (b) How would the PVIF change if the interest rate rose? Explain clearly and completely why this would happen, using clear and simple terms.

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