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d. The present value of 1,552.90 due in 10 years at 12% and at 6% = 500 for 10 years at 12% and = 867.13

d. The present value of 1,552.90 due in 10 years at 12% and at 6% = 500 for 10 years at 12% and = 867.13 for 10 years at 6% e. Define present value and illustrate it using a time line with data from part d. How are present values affected by interest rates?

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