Question: Benjamin knows that he will be receiving $120,949 to settle an insurance claim, but he will not actually be paid for another 3 months. Needing

Benjamin knows that he will be receiving $120,949 to settle an insurance claim, but he will not actually be paid for another 3 months. Needing cash now, he is considering an offer from a finance company to buy this payment from him by paying him cash today. The annual simple discount rate they are offering him is 28%. How much would he receive if he takes this deal?

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