Question: please solve properly using formula not financial calculator. Example: If in a prize offer you are given two options, (1)get $50,000 today or (2)paid $7000

please solve properly using formula not financial calculator.

Example: If in a prize offer you are given two options, (1)get $50,000 today or (2)paid $7000 per year for the next 12 year starting from today at an interest rate of 12% so which prize option would you prefer

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