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Part $1$

$($Present$-$value comparison$)$ You are offered $$$$1$ comma $000$today$,$$$10$ comma $000$ in $12$years$,$ or $$$$25$ comma $000$ in $25$ years. Assuming that you can earn $11$ percent on your$$ money, which offer should you$$ choose?

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Part $1$

a$.$ What is the present value of $$$$25$ comma $000$ in $25$ years discounted at $11$ percent interest$$ rate?