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Marilyn's parents have agreed to help her purchase a new car upon graduation in four years. They ...

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Marilyn's parents have agreed to help her purchase a new car upon graduation in four years. They ...

Marilyn's parents have agreed to help her purchase a new car upon graduation in four years. They have given her two choices. The first choice is that they will give her $4,000 each year for the next four years for her to invest herself. The second choice is that they will wait four years and give her $18,000. Marilyn can invest the money at a 4% rate.

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a.	Which option should Marilyn choose? Why?

b.	If Marilyn can invest the money at 8%, which options should she choose? Why?

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Managerial Accounting

Edition: 4^th

Author: Davis

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