Zane has received a prize which entitles him to receive annual payments of $10,000 for the next 10 years. Which of the following is to be referred to in order to calculate the total value of the prize today?
A) Present Value of $1
B) Present Value of an Annuity of $1
C) Future Value of $1
D) Future Value of an Annuity of $1
Correct Answer:
Verified
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