2. As the winner of a chocolate eating competition you will receive $5,000 today, with...
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2. As the winner of a chocolate eating competition you will receive $5,000 today, with this amount growing at a constant rate of 3% p.a. over the foreseeable future. If the interest rate appropriate for valuing this prize is 10% p.a., its present value today is closest to:
Group of answer choices
$73,571.
$78,571.
$76,429.
$71,429.
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