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(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
(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: $1,400 today, $9,000 in 14 years, or $30,000 in 29 years. Assuming that you can earn 9 percent on your money, which should you choose? If you are offered $9,000 in 14 years and you can earn 9 percent on your money, what is the present value of $9,000 ? $ (Round to the nearest cent.)
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