Present-value comparison
(Present-value comparison) You are offered $20,000 today or $340,000 in 10 years. Assuming that you can earn 16 percent on your money, which should you choose?
If you are offered $340,000 in 10 years and you can earn 16 percent on your money, what is the present value of 340,000?
___ (Round to the nearest cent.)
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