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fill the blank by correct answer and explain it please D Question 1 1 pts Suppose that the effective rate of discount is 11%. To

fill the blank by correct answer and explain it please image text in transcribed
D Question 1 1 pts Suppose that the effective rate of discount is 11%. To get a payment of $500 a year from now and another payment of $250 two years from now, how much (at least) should we have today? Round the answer to the nearest dollar amount. (Write 123 if the answer is $123.45)

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