(Present-value comparison) Much to your surprise, you were selected to appear on the TV show "The Price is Right " As a result of your prowess in identifying how many rolls of toilet paper a typical American family keeps on hand, you win the opportunity to choose one of the following:

$1,100

today,

$12,000

in 15 years, or

$33,000

in 26 years. Assuming that you can earn 11 percent on your money, which should you choose?\ If you are offered

$12,000

in 15 years and you can earn 11 percent on your money, what is the present value of

$12,000

?\ (Round to the nearest cent.)

(Present-value comparison) Much to your surprise, you were selected to appear on the TV show "The Price is Right" As a result of your prowess in identifying how many rolls of tollet paper a typical American family keeps on hand, you win the opportunity to choose one of the following: $1,100 today, $12,000 in 15 years, or $33,000 in 26 years. Assuming that you can earn 11 percent on your money, which should you choose? If you are offered $12,000 in 15 years and you can earn 11 percent on your money, what is the present value of $12,000 ? (Round to the nearest cent.)