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Suppose the interest rate is 4.1 %. a. Having $ 450 today is equivalent to having what amount in one year? b. Having $ 450

Suppose the interest rate is 4.1 %. a. Having $ 450 today is equivalent to having what amount in one year? b. Having $ 450 in one year is equivalent to having what amount today? c. Which would you prefer, $ 450 today or $ 450 in one year? Does your answer depend on when you need the money? Why or why not?

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