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0 You have a choice of $52 received today or three (3) payments of $20 each. The first payment (of the three payments) will be
0 You have a choice of $52 received today or three (3) payments of $20 each. The first payment (of the three payments) will be received exactly one (1) year from today, the second will be received exactly two (2) years from today and the third will be received exactly three (3) years from today. Assume that you can always earn 6% per year. Required: The present value of the $52 received today alternative is $ . The present value of the three payment alternative is $ The approximate rate of return earned if the three payment alternative is chosen is between % and
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