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Assume you are going to receive a payment of $ 1 , 0 0 0 in 5 years. You'd like to know what that cash

Assume you are going to receive a payment of $

1, 000

5

years. You'd like to know what that cash flow would be worth today. To calculate the answer, you use the given interest rate to obtain an equivalent cash flow expressed in today's dollars.

This is an example of calculating a

. . .

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