Suppose that the monthly compounded annual interest rate is 2.5%. What is the [2] present value β of 1 pound received in 1 month from today (in other words, the discounting factor)? Give your answer to 6 decimal places

/in /by

Suppose that the monthly compounded annual interest rate is 2.5%.
What is the [2] present value β of 1 pound received in 1 month from
today (in other words, the discounting factor)? Give your answer to 6
decimal places

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