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3. You can choose among the following rent payment options: a) A lump sum payment of $100,000 today b) Ten annual payments of $12,000 each,

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3. You can choose among the following rent payment options: a) A lump sum payment of $100,000 today b) Ten annual payments of $12,000 each, the first payment occurring immediately c) Monthly payments of $1,200 each for 120 months with the first payment occurring immediately Which rental payment scheme would you choose if the interest rate is 5% per year and why? (Show your calculations)

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