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Which one is correct? In computing the present and future value of multiple cash flows, a) each cash flow is discounted or compounded at the

Which one is correct? In computing the present and future value of multiple cash flows,

a) each cash flow is discounted or compounded at the same rate.

b) earlier cash flows are discounted at a lower rate.

c) all the cash flows are summed first and discounted later.

d) earlier cash flows are discounted at a higher rate.

e) none of the answers is correct

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