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You have won a major prize in a competition. There are three

Assignment Help Finance You have won a major prize in a competition. There are three

Finance

You have won a major prize in a competition. There are three

You have won a major prize in a competition. There are three options in collecting the prize and… Show more You have won a major prize in a competition. There are three options in collecting the prize and you are given a day to determine how you wish to receive the prize. Which option would you take? (The interest rate is 5 percent compounded monthly.) You can receive $100,000.00 per year for the next two years. You can receive 27,000.00 cash today plus 85,000.00 per year for the next two years. Or you can receive $9,500 per year in perpetuity. Explain which option you would take. • Show less

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