Question: Consider a stimulus program that intends to spend $300 billion every year, for three years. Assume a 3% discount rate. What is the present value

Consider a stimulus program that intends to spend $300 billion every year, for three

years. Assume a 3% discount rate. What is the present value of the program? (Do this by hand & show your work.)

300/1.03 =

300/1.032 =

300/ 1.033=

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