Question: In computing the present and future value of multiple cash flows: each cash flow is discounted or compounded at the same rate. later cash flows

In computing the present and future value of multiple cash flows:
each cash flow is discounted or compounded at the same rate.
later cash flows are discounted at a higher rate.
each cash flow is discounted or compounded at a different rate.
earlier cash flows are discounted at a higher rate.
 In computing the present and future value of multiple cash flows:

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