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29) You won the lottery and can receive the pavout in one of the following ways Option 1: $60,000 today Option 2 $10,000 one year
29) You won the lottery and can receive the pavout in one of the following ways Option 1: $60,000 today Option 2 $10,000 one year from today, $25,000 two vears from today, and $35,000 three years from today. if you plan to use this money to pay for your child's college education in 15 years, you should A) take the $60,000 today because of the time value of money regardless of current interest rates B) take Option 2 because you get $70,000 rather than $60.000 regardless of current interest rates take the $60,000 today only if the current interest rate is at least 16.67 D) take the $60,000 today if you can earn 6.81% per year or more on your investments E) Need more information to make the choice
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