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Imagine you have won the lump sum amount of $1500 in a recent contest. However, you must wait until the end of 10 years to
Imagine you have won the lump sum amount of $1500 in a recent contest. However, you must wait until the end of 10 years to receive the money. However, you would prefer a different pattern of payments: $350 today and then receive some unknown LUMP SUM (1.e. one time) amount that will be received in 10 years. Using an interest rate of 6.50%, determine the unknown lump sum amount that would make the present value of both prizes equivalent. O $449.09 O $2158.71 $843.00 $186.45 0 $799.09 SUBMIT
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