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Teresa has 2 options available for her inheritance: Option 1: she could receive $15,000 today Option 2: she could receive $4,000 now and 14,000 in

Teresa has 2 options available for her inheritance:

Option 1: she could receive $15,000 today

Option 2: she could receive $4,000 now and 14,000 in 3 years

Which option is better if money is worth 9.0% compounded semi-annually?

Show all calculations.

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