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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 

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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