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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?
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?\ "Because money today is worth more than money in the future, $450 today is preferred to $450 in one year. This answer is correct even if you don't need the money today, because by investing the $450 you receive today at the current interest rate, you will have more than $450 in one year."\ Is the above statement true or false? \ \ . (Select from the drop-down menu.)
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