The present value of $100 to be received in the year 2014 is
A) less than the present value of $100 to be received in 2015.
B) greater than the present value of $100 to be received in 2015.
C) the same as the present value of $100 to be received in 2015.
D) greater than the present value of $100 to be received in 2015 if the interest rate in 2015 exceeds the interest rate in 2014; otherwise, it is less.
Correct Answer:
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