Question: 1/ What is the relationship between a future value and a present value? 2/ A well-known advertisement by American Express urged travelers returning home to

1/ What is the relationship between a future value and a present value?

2/ A well-known advertisement by American Express urged travelers returning home to keep their travelers checks rather than cash them in.The reason given wasto have cash in an emergency, but could American Express have had any other reason for encouraging this behavior?

3/ Why do airlines often insist that you pay for your ticket on the date you book your flight rather than the date you actually fly?

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