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QUESTION
You are to choose between receiving $909.00 today or $1,000.00 in 12 months' time.
You are to choose between receiving $909.00 today or $1,000.00 in 12 months’ time. Assuming an interest rate of 10% and rounding off to a whole dollar, should you be indifferent between the two options? Why or why not?What does this exercise tell you about the relationship between $1 today and $1 tomorrow?
You are to choose between receiving $909.00 today or $1,000.00 in 12 months' time. Assuming an interest rate of 10% and rounding off to a whole dollar, should you be indifferent between the two...