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Present and future value tables of $1 at 3% are presented below: N 1 2...

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Accounting

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Present and future value tables of $1 at 3% are presented below: N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 FV $1 103000 106090 1.09273 112551 1.15927 119405 1.22987 126677 130477 1.34392 138423 1.42576 146853 1.51259 155797 1.60471 PV $1 0.97087 0.94260 0.91514 0.88849 0.86261 0.83749 0.81309 0.78941 0.76642 0.74409 0.72242 0.70138 0.68095 0.66112 0.64186 0.62317 FVA $1 1.0000 2.0300 3.0909 4.1836 5 3091 6.4684 76625 8,8923 10.1591 11.4639 12.8078 14.1920 15.6178 170863 18.5989 20.1569 PVA $1 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 701969 778611 8.53020 925262 9.95400 10.63496 11.29607 1193794 12.56110 FVAD $1 10300 2.0909 31836 4.3091 5.4684 6.6625 78923 9.1591 10.4639 11.8078 13.1920 14.6178 160863 175989 19.1569 20.7616 PVAD $1 100000 1.97087 291347 3.82861 4.71710 5.57971 6.41719 723028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794 Jose wants to cash in his winning lottery ticket. He can either receive two, $7,000 annual payments starting today, or he can receive a lump-sum payment now based on a 3% annual interest rate. What would be the lump-sum payment? Multiple Choice $13.796 $13,394 ere to search C

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