Problem
Magdalen, Miriam, and Mary June were asked to consider two different cash flows: $500 that they could receive today and $1000 that would be received 3 years from today. Magdalen wanted the $500 dollars today, Miriam chose to collect $1000 in 3 years, and Mary June was indifferent between these two options. Can you offer an explanation of the choice made by each woman?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.