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Lisa Preston is 22 years old, and her grandmother has remembered Lisa in her will, which is now being probated. Lisa has been bequeathed either
Lisa Preston is 22 years old, and her grandmother has remembered Lisa in her will, which is now being probated. Lisa has been bequeathed either a cash payment today of $35,000 or a cash payment on her birthday six years from now of $75,000. Assuming an annual interest rate of 5%, Lisa should take the cash and run.
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