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8. Your father offers you a choice of $105,000 in 12 years or $47,000 today. a. If money is discounted at 8 percent, which should
8. Your father offers you a choice of $105,000 in 12 years or $47,000 today.
a. If money is discounted at 8 percent, which should you choose?
b. If money is still discounted at 8 percent, but your choice is between $105,000 in 9 years or $47,000 today which should you choose?
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