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Magdalen, Miriam, and Mary June were asked to con- sider two different cash flows: $500 tbat they could receive today and $1000 that would be

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Magdalen, Miriam, and Mary June were asked to con- sider two different cash flows: $500 tbat they could receive today and $1000 that would be received 3 years from today. Magdalen wanted the $500 dollars today, Miriam cbose to collect $1000 in 3 years, and Mary June was indifferent between these two options. Can you offer an explanation of the choice made by each woman? 3-2

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