Riley says that the present value of $700 one year from today if the interest rate is 6 percent isless than the present value of $700 two years from today if the interest rate is 3 percent. Anh saysthat $700 saved for one year at 6 percent interest has a smaller future value than $700 saved fortwo years at 3 percent interest. a. Both Riley and Anh are correct. b. Both Riley and Anh are incorrect. c. Only Riley is correct. d. Only Anh is correct.
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