Question
If the discount (or interest) rate is positive, the present value of an expected series of payments will always exceed the future value of the
If the discount (or interest) rate is positive, the present value of an expected series of payments will always exceed the future value of the same series (i.e., PV will always be greater than FV). TRUE OR FALSE? The answer is False. Why is this flase?
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
