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Kerry Bales won the state lottery and was given four choices for receiving her winnings. Receive $110,000 at the end of each year for eight
Kerry Bales won the state lottery and was given four choices for receiving her winnings.
Receive $110,000 at the end of each year for eight years.
Receive $55,000 at the end of each year for 30 years.
Assuming Kerry can earn interest of 8% compounded annually, calculate each option
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