You just won the grand prize in a national writing contest! As your prize, you will receive $500 a month for 50 months. If you can earn 7 percent on your money, what is this prize worth to you today?
A) $21,629.93
B) $18,411.06
C) $21,338.40
D) $20,333.33
E) $19,450.25
Correct Answer:
Verified
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