1.
A dollar received today is worth more than a dollar to be received tomorrow
2.
The present value of an annuity of $100 at 15% is worth more than an annuity of $100 at 12%
3.
"discounting the future at a high rate" places emphasis on the present
A.
1 and 2
B.
1 and 3
C.
2 and 3
D.
1, 2, and 3

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