is based on the notion that a dollar paid in the future is less valuable than a dollar paid today.

The present value of a loan in which $$3000$ is to be paid out a year from today with the interest rate equal to $5\%$ is $$.($Round your response to the

neareast two decimal place$)$

If a loan is paid after two years, and the amount $$1000$ is to be paid then with a corresponding $6\%$ interest rate, the present value of the loan is $$.R$ ound

your response to the neareast two decimal place$)$