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Upon graduation, Jenny thinks you are a wonderul commerce student. She offers to pay you 78,000 per year for 6 years of services. Her competitor,

Upon graduation, Jenny thinks you are a wonderul commerce student. She offers to pay you 78,000 per year for 6 years of services. Her competitor, Katie, is prepared to offer you less at 65,000 per year but for a longer period of guaranteed time at 8 years. all other things being equal, which contract would you choose if money is worth 5%? if money is worth 12%, does this change your answer?

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