\n For winning first prize in an essay contest, you are offered a choice of prizes:\n <\/p>\n
\n A. a single payment of P dollars now; or\n <\/p>\n
\n B. two payments: $300 one year from now and $400 two years from now.\n <\/p>\n
\n To the nearest cent, what would P have to be in order for choices A and B to have equal value?\n <\/p>\n
\n Assume that all payments will be deposited as soon as they are received into an account paying 5%\n <\/p>\n
\n interest, compounded annually.\n <\/p>\n
\n (A) $653.06\n <\/p>\n
\n (B) $680.95\n <\/p>\n
\n (C) $685.71\n <\/p>\n
\n (D) $647.30\n <\/p>\n
\n (E) $648.53\n <\/p>\n
\n (F) $700.00\n <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
For winning first prize in an essay contest, you are offered a choice of prizes: A. a single payment of P dollars now; or B. two payments: $300 one year from now and $400 two years from now. To the nearest cent, what would P have to be in order for choices A and B […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/228857"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=228857"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/228857\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=228857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=228857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=228857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}