To critically think about: The price of the security issued by the Treasury Introduction: The time value of money implies that the cash in hand at present has a higher value than the cash receipt promised in the future. Hence, a person needs more money in the future to buy the same product at present.

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Chapter 5, Problem 9CRCT

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To critically think about: The price of the security issued by the Treasury

Introduction:

The time value of money implies that the cash in hand at present has a higher value than the cash receipt promised in the future. Hence, a person needs more money in the future to buy the same product at present.

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