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Annuities As a reward, Teddy receives this offer where he has to choose from one of these payment plans. a. A single cash payment of

Annuities As a reward, Teddy receives this offer where he has to choose from one of these payment plans. a. A single cash payment of 320,000 to be received immediately b. Monthly reward payment of 4,800

for 10 years If the money can be invested at 6% per year compounded monthly which offer would you think Teddy should accept?

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