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You have the choice of receiving $50,000 now or $23,000 now and another $35,000 seven years from now. In terms of today's dollar, which choice

You have the choice of receiving

$50,000

now or

$23,000

now and another

$35,000

seven

years from now. In terms of today's dollar, which choice is better and by how much? Money is worth

4.6%

compounded annually.

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