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Your business associate who owes you $11400 offers to pay you either $10150 now or else to pay you 6 yearly installments of $1900, the

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Your business associate who owes you $11400 offers to pay you either $10150 now or else to pay you 6 yearly installments of $1900, the first installment paid now. Assume a 6.2% market interest rate, compounded continuously. How much would you have at the end of 6 years if you choose to take the $ 10150 offer now, and you use the market to earn interest on the funds? $ 14723.9 How much would you have at the end of 6 years if you choose to take the installments each year, and you still used the market to earn interest on the the funds? $ 4556.63 Is it better to take the lump sum? Y (Y for yes, N for no.)

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