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You have just won the state lottery and have two choices for collecting your winnings. You can collect $ 1 0 9 , 0 0

You have just won the state lottery and have two choices for collecting your winnings. You can collect $

109, 000

today or receive $

21, 800

at the end of each year for the next seven years. A financial analyst has told you that you can earn

10

percent on your investments.Calculate the present value of both the options?

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