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In a year, you expect to receive a payment of $1 million in a year. That annual interest rate is 5%. What is the present value of the future payment? options: $995,025 $666,667 $952,381 $1,050,000

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In a year, you expect to receive a payment of $1 million in a year.

That annual interest rate is 5%. What is the present value of the future payment?
options:
$995,025
$666,667
$952,381
$1,050,000

 
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