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You have won a sweepstakes and will receive $40,000 for 14 years at the end of each year). You would rather not wait to receive
You have won a sweepstakes and will receive $40,000 for 14 years at the end of each year). You would rather not wait to receive all of the money, so you have been soliciting offers for the revenue stream. You have an offer to sell the sweepstakes proceeds for $250,000. If current interest rates are 4.7%, what is the value of the sweepstakes proceeds? Select one: a. Less than $250,000 b. Between $250,000 and $350,000 c. Between $350,000 and $450,000 d. Between $450,000 and $550,000 e. Greater than $550,000
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