Question
If the interest rate this year is 8 percent, the interest rate next year will be 10 percent, and the interest rate in the third
If the interest rate this year is 8 percent, the interest rate next year will be 10 percent, and the interest rate in the third year will be 5 percent, what is the present value of a payment of $1 to be received in 3 years?
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Microeconomics
Authors: Glenn Hubbard, Anthony O'Brien
7th Edition
0134737504, 978-0134737508
