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You are offered a choice between receiving $1,200 today or $500 per year for each of the next three years. Assuming an interest rate of
You are offered a choice between receiving $1,200 today or $500 per year for each of the next three years. Assuming an interest rate of 4%, the difference between the two options is:
- $0
- $188
- $1,200
- $340
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