Mathematics

24 June, 12:22

Pretend today is your birthday, and you're hoping for some money. But your grandma is a finance professor and likes making things difficult for you. She tells you that she'll either give you $1,500 today, or give you $550 each year at the end of the year for the next 3 years. If the applicable discount rate is 6%, should you take the $1,500?

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