2. In which of the following instances is the present value of the future payment the largest? a. You will receive $1,000 in 5 years and the annual interest rate is 5 percent. b. You will receive $1,000 in 10 years and the annual interest rate is 3 percent. c. You will receive $2,000 in 10 years and the annual interest rate is 10 percent. d. You will receive $2,400 in 15 years and the annual interest rate is 8 percent.

2. In which of the following instances is the present value of the future payment the largest?
a. You will receive $1,000 in 5 years and the annual interest rate is 5 percent.
b. You will receive $1,000 in 10 years and the annual interest rate is 3 percent.
c. You will receive $2,000 in 10 years and the annual interest rate is 10 percent.
d. You will receive $2,400 in 15 years and the annual interest rate is 8 percent.

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