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You're won a lottery that allows one of two prizes: 1) $2400 to be received in 2 year(s), 2) $400 received at the end of

You're won a lottery that allows one of two prizes: 1) $2400 to be received in 2 year(s), 2) $400 received at the end of each year for 6 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? (enter the number 1 or 2)

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