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A contest advertises a ${A} prize. The winner will be paid out on the following schedule: ${B} today, ${C} one year from now, and ${D}
| A contest advertises a ${A} prize. The winner will be paid out on the following schedule: ${B} today, ${C} one year from now, and ${D} per year thereafter until 6 years from now (totaling ${A} paid out). If money can earn {E}% compounded annually, what is the value of the prize today? | {A} | {B} | {C} | {D} | {E} | annually | i = |
| $10,00,000 | $2,30,000 | $2,94,000 | $95,200 | 8% | |||
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Innovation And Technology
Authors: Nikos Vernardakis
1st Edition
0415676800, 978-0415676809
