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Question 1: You are given a choice of receiving $281.82 four years from today (t-4) or $x today (t=0). If the interest rate is

Question 1: You are given a choice of receiving $281.82 four years from today (t-4) or $x today (t=0). If the interest rate is 7% per annum (p.a.) what is the value of x which makes you indifferent between these choices? Question 2: The current interest rate is 7.18% p.a. How many years will it take to double your money?

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