Clint just won a prize that will pay him $15,000 a year for 15 years,starting at the end of Year 5.What is the current value of this prize if the discount rate is 7 percent,compounded annually?
A) $102,655.52
B) $98,550.64
C) $104,225.76
D) $116,191.91
E) $108,806.61
Correct Answer:
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