Question: If the five-year discount factor is d, what is the present value of $1 received in five years time? a. 1/(1+d)^5 b. 1/d c. 5d

If the five-year discount factor is d, what is the present value of $1 received in five years time? a. 1/(1+d)^5

b. 1/d

c. 5d

d. d

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