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Suppose that your college offers you two payment plans. You may either pay tuition of $10,000 per year at the beginning of each of the

  1. Suppose that your college offers you two payment plans. You may either pay tuition of $10,000 per year at the beginning of each of the next four years, or pay just $38,000 before the start of freshman year. If the interest rate is 10%, what would you do? Show the necessary calculations that you need to arrive at your answer.

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