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Import Cars is planning a big party to highlight the new models for the next year.They are considering offering a $5,000 grand prize to one
Import Cars is planning a big party to highlight the new models for the next year.They are considering offering a $5,000 grand prize to one lucky winner.$1,000 will be paid on the day of the drawing.The remaining $4,000 will be paid in four annual payments of $1,000 starting 1 year after the drawing.How much is this prize really worth at a 6 percent rate of return?
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