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As the prize in a contest, you are offered $20,000 now or $31,000 in 6 years. If the money can be invested at 8% compounded
As the prize in a contest, you are offered $20,000 now or $31,000 in 6 years. If the money can be invested at 8% compounded annually, which prize will be worth more in 6 years? accepting $20,000 prize now accepting $31,000 prize in 6 years
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