You have the choice of receiving $100 000 now or $60 000 now and another $60 000

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You have the choice of receiving $100 000 now or $60 000 now and another $60 000 five years from now. In terms of today’s dollar, which choice is better and by how much? Money is worth 6% compounded annually.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:47 AM

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You have the choice of receiving $100 000 now or $60 000 now and another $60 000

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FV 60 00000 I Y 6 C Y 1 i 60 006 n 5 PV 60 00000106 5 6...View the full answer

Contemporary Business Mathematics with Canadian Applications

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