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You will receive $1,000 in 5 years from a friend. You estimate of the appropriate annual discount rate has changed from 4% to 9%. How

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You will receive $1,000 in 5 years from a friend. You estimate of the appropriate annual discount rate has changed from 4% to 9%. How has your present value estimate changed? Decreased by $44.11 Decreased by $172 Increased by $322 Increased by $407

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