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1 7 . Jon has the following options to receive payment for selling his boat: Option 1 : $ 5 0 0 0 today, $

17. Jon has the following options to receive payment for selling his boat:
Option1: $5000 today, $2000 in 2 months, and $3000 in 10 months
Option 2: $7000 today and $3000 in 15 months.
If money earns 3.5% simple interest, find the economically equivalent value of the options in todays dollars. Which option is better for Jon? In todays dollars, what is the economic advantage of the preferred choice?

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