Question
You've won a lottery that allows one of two prizes: 1) $1200 to be received in 3 year(s), 2) $400 received at the end
You've won a lottery that allows one of two prizes: 1) $1200 to be received in 3 year(s), 2) $400 received at the end of each year for 3 years. Use an interest rate of 6.50%. Remember: Do not use commas in your answer! Find the present value of Prize 1. S Find the present value of Prize 2. $ Which prize is larger? (enter the number 1 or 2)
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Introduction to Governmental and Not for Profit Accounting
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
7th edition
9780132776073, 132776014, 978-0132776011
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