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You just won a contest. The prize is a lump sum payment of $ 81,441, however, you will not receive this payment for 28 years.

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You just won a contest. The prize is a lump sum payment of $ 81,441, however, you will not receive this payment for 28 years. Compute the present value of your prize assuming a discount rate of 15 percent per annum. (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). Your Answer: You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $ 147 (first payment made at t = 1), followed by five annual payments of $ 473, followed by four annual payments of $ 767. How muc did you borrow? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign)

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