Tessa won the lottery for $2,500,000 but due to a change in state laws she will not be able to collect it for three years. Ralph is willing to give her a lump sum today in return for the payment in three years. If current interest rates are 14% per year, how much will Tessa receive today?
A) $1,687,430
B) $5,804,080
C) $2,500,000
D) $3,703,860
A
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A) Seizes money in the control of a defendant before judgement. B) Seizes money in the control of a defendant after judgement. C) Seizes money in the control of a third party owed to the defendant after judgement. D) Seizes money in the control of a third party owed to the defendant before judgement. E) Both B and C.
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An object encapsulates both data and behavior
Indicate whether the statement is true or false