Problem
1. If the interest rate is 10 percent and a dollar will be paid to you in three years, what is the present value of that dollar (to the nearest 10th of a cent)?
2. What is the present value of $10,000 that will be paid to you in four years if the interest rate is 8 percent? Work it out to the nearest cent.
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.