1) $2400 to be received in 2 year(s), 2) $1200 received at the end of each year for 2 years. Use an interest rate of 5.50%. Remember: Do not use commas in your answer! Find the present value of Prize 1. $ Find the present value of Prize 2. $ Which prize is larger? (enter the number 1 or 2)

Answer rating: 100% (QA)

To find the present value of each prize we can use the present value formula for both single and ord... View the full answer