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Eleanor's friend offers to give her a car now in exchange for $100 a month starting today and paid for the next 5 years. Eleanor
Eleanor's friend offers to give her a car now in exchange for $100 a month starting today and paid for the next 5 years. Eleanor is not sure about it so she offers $5000 today for the car instead. If the the annual interest rate is 5%, and the car has no value after 5-years, which deal is better for Eleanor?
If Eleanor takes the friend's offer the current value of what she'd pay the friend is [ Select ] The [ Select ] is a better deal for Eleanor
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