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Present-value comparison

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(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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