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You have the choice of receiving $ 1 2 0 , 0 0 0 now or $ 6 6 , 0 0 0 now and
You have the choice of receiving $ now or $ now and another $ seven years from now. In terms of today's dollar, which choice is better and by how much? Money is worth compounded annually.
Which choice is better?
A They are equal in value.
B The choice of $ now is better.
The choice of $ now and $ in seven years is better.
The better choice is greater than the alternative choice by $ in tems of today's dollar.
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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