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Nancy has won a lottery today. She will receive $5,000 a year for the next 25 years. We call the current value (value today) of

Nancy has won a lottery today. She will receive $5,000 a year for the next 25 years. We call the current value (value today) of these payments to Nancy the _________________.

Multiple Choice

  • single amount

  • future value

  • present value

  • simple amount

  • compounded value

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