Question
If the discount rate is positive, the present value of multiple cash flows is: A. greater than the sum of the cash flows. B. equal
If the discount rate is positive, the present value of multiple cash flows is:
| A. | greater than the sum of the cash flows. | |
| B. | equal to the sum of all the cash flows. | |
| C. | less than the sum of the cash flows. | |
| D. | to infinity and beyond. |
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Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
