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For all problems, your answers should provide (a) Timeline, (b) Financial equation, (c) Algebraic equation, and (d) Answer in 9 decimal places in sequence. 3.
For all problems, your answers should provide (a) Timeline, (b) Financial equation, (c) Algebraic equation, and (d) Answer in 9 decimal places in sequence. 3. As winner of a breakfast cereal competition, you can choose one of the following prizes: (a) $100,000 now (b) $180,000 at the end of 5 years (c) $11,400 a year forever (d) $19,000 for each of 10 years If the interest rate is 13 percent, which is the most valuable prizes? [Hint calculate the present values]
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