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Which of the following statements is true? 1. If the rate at which you can invest is 0%, the value today of $1 to be

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Which of the following statements is true? 1. If the rate at which you can invest is 0%, the value today of $1 to be received in the future is less than $1. II. Present value is the value today of future cash flows discounted at the appropriate discount rate. III. Present values are always smaller than future values when both r and t are positive II and III only. I and II only. III only. Il only. o Tonly

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