You expect to receive a payment of $104 one year from now. Your discount rate is 4 percent. What is the present value of the payment to be received? Suppose that the discount rate is 5 percent. What is the present value of the payment to be received?

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104x4

PV=104/4 right?

you expect to receive a payment of $104 in a year from now your discount rate is 4% what is the present value of the payment to be received