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Suppose the current market interest rate is 4.0 per cent. Then the present value of a sum of $1000 you expect to receive three years

Suppose the current market interest rate is 4.0 per cent. Then the present value of a sum of $1000 you expect to receive three years from today is approximately:

a) $1000.00

b) $988.90

c) $889.00

d) $1125.00

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