What is the current value of prize

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Reference no: EM131559689

Theo just won a prize that will pay him $12,000 a year for 12 years, starting at the end of Year 12. What is the current value of this prize if the discount rate is 9 percent, compounded annually?

$34,282.98

$85,928.70

$30,550.64

$86,191.91

$33,300.20

Reference no: EM131559689

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