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Ellie has won a lottery. The lottery offers to payment plans. Ellie is trying to decide which one of two he should accept. Project 1

Ellie has won a lottery. The lottery offers to payment plans. Ellie is trying to decide which one of two he should accept.

Project 1 will pay $48,000 a year for 8 years.

Project 2 will pay $52,000 a year for 6 years Assuming the interest rate is 15 percent,

which plan should she select and why?

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