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M & B 4th Edition by Dean Croushore
Edition 4ISBN: 978-1111823351M & B 4th Edition by Dean Croushore
Edition 4ISBN: 978-1111823351 Exercise 9
Explain the basis for the present-value formula (Equation 4). Tell why each term looks the way it does. If the rate of discount is zero, how does the formula simplify?
Explanation
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M & B 4th Edition by Dean Croushore
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