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You expect to receive a payment of $115 one year from now. 1. Your rate of discount is 3 percent. What is the present value

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You expect to receive a payment of $115 one year from now. 1. Your rate of discount is 3 percent. What is the present value of the payment to be received? 2. Suppose that your rate of discount rises to 5 percent. What is the present value of the payment to be received

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