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A local magazine is offering a $2,500 grand prize to one lucky winner. The prize will be paid in four annual payments of $625 each,
A local magazine is offering a $2,500 grand prize to one lucky winner. The prize will be paid in four annual payments of $625 each, starting one year after the drawing. How much would this prize be worth to you if you can earn 9 percent on your money? A. $1,848.18 B. $2,024.82 C. $2,545.54 D. $2,450.14 E. $1,934.24
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