Question

Begin with a single sum of money at period 0. First, calculate a future value of that sum at 12.01%. Then discount that future value back to period 0 at 11.99%. In relation to the initial single sum, the discounted future value:
(a) Is greater than the original amount
(b) Is less than the original amount
(c) Is the same as the original amount
(d) Cannot be determined with the information given

Answer

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