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Marilyn's parents have agreed to help her purchase a new car upon graduation in four years. They have given her two choices. The first choice
Marilyn's parents have agreed to help her purchase a new car upon graduation in four years. They have given her two choices. The first choice is that they will give her $4,080 each year for the next four years for her to invest herself. The second choice is that they will wait four years and give her $18.290. Marilyn can invest the money at a 4% rate. (a) Which option should Marilyn choose? (Round present value factor calculations to 4 decimal places, e.g. 1.2512 and final answers to decimal places eg. 58,971.) Option 1 Option 2 Present value $ Marilyn should take should take Save for Later Last saved 6 minutes ago. Saved work will be auto-submitted on the due date. Attempts: 0 of 1 used Submit
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