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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 of

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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 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? (enter the number 1 or 2 )

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