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You have the choice of receiving $120,000 now, or $66,000 now and another $84,000 seven years from now. In terms of today's dollar, which choice
You have the choice of receiving $120,000 now, or $66,000 now and another $84,000 seven years from now. In terms of today's dollar, which choice is better and by how much? Money is worth 6.8% compounded annually. Which choice is better? A. The choice of $66,000 now and $84,000 in seven years is better. B. They are equal in value. C. The choice of $120,000 now is better. The better choice is greater than the alternative choice by in terms 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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