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Some of these are inherent in the position Churchill occupied as a former prime minister and a serving politician. He could not reveal ongoing military secrets, such as the work of the code breakers at Bletchley Park, or the planning of the atomic bomb. [8] As stated in the author's introduction, the book concentrates on the British war effort. [2]
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It is said that the discounted value of $1.00 one year from now is equal to $0.9091 at a discount rate of 10%. Similarly, $0.8264 is the PV of $1.00 receivable two years from today at the 10% rate. The term 'interest rate' used above is an approximation for the economist's discount rate (see below) .
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