Problem
1. If the interest rate is 12 percent and a dollar will be paid to you in four years, what is the present value of that dollar (to the nearest cent)?
2. Which has a higher present value: (a) $100 in 10 years when the interest rate is 2 percent, or (b) $100 in 3 years when the interest rate is 8 percent?
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.