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12. Courtney wins a prize. She has a choice of receiving a payment of $150,000 immediately or of receiving a deferred perpetuity with $7,500

12. Courtney wins a prize. She has a choice of receiving a payment of $150,000 immediately or of receiving a deferred perpetuity with $7,500 annual payments, the first payment occurring in exactly 4 years. Calculate the present value of each scenario if the annual effective interest rate is 5,5%.

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