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Is the face value of a Treasury bill the present value or the future value? If an investment loses 30% in one year and gains

  1. Is the face value of a Treasury bill the present value or the future value?
  2. If an investment loses 30% in one year and gains 30% the following year, is there a net change in value? In loan amortization, does the ratio of principal to interest in each equal payment increase or decrease with time?

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