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Mr. Dubofsky just won a Name That Tune contest with a grand prize of $250,001. However, the contest stipulates that the winner will receive $100,000
Mr. Dubofsky just won a "Name That Tune" contest with a grand prize of $250,001. However, the contest stipulates that the winner will receive $100,000 immediately, and $15,000 at the end of each of the next 10 years. Assuming that he can earn 5% on his money, how much has he actually won?
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