A local magazine is offering a $2,500 grand prize to one lucky winner. The prize will be paid in four annual payments of $625 each, starting one year after the drawing. How much would this prize be worth to you if you can earn9 percent on your money? 

Answer rating: 100% (QA)

The total value of the prize is spread out over four years so if you can earn interest on the money ... View the full answer