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You're won a lottery that allows one of two prizes: 1) $3000 to be received in 2 year(s), 2) $1000 received at the end of
You're won a lottery that allows one of two prizes: 1) $3000 to be received in 2 year(s), 2) $1000 received at the end of each year for 3 years. Use an interest rate of 5.00%. Remember: Do not use commas in your answer! Find the present value of Prize 1. $ Find the present value of Prize 2. $ Which prize is larger
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