On march 28, 2008, toyota motor credit corporation (tmcc), a subsidiary of toyota motor, offered some securities for sale to the public. under the terms of the deal, tmcc promised to repay the owner of one of these securities $100,000 on march 28, 2038, but investors would receive nothing until then. investors paid tmcc $24,099 for each of these securities; so they gave up $24,099 on march 28, 2008, for the promise of a $100,000 payment 30 years later. why would tmcc be willing to accept such a small amount today ($24,099) in exchange for a promise to repay about four times that amount ($100,000) in the future