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QUESTION 2 (5 marks) Leon Luck has won a big prize and will be given $100,000 every six months commencing today for the next 25

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QUESTION 2 (5 marks) Leon Luck has won a big prize and will be given $100,000 every six months commencing today for the next 25 years. If he invests the winnings at a rate of 9.24 percent per annum, what will be the: i. Present value of the cash flows (2 marks) ii. Future value of the cash flows (2 marks) iii. Effective annual rate (1 mark)

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