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Calculate the upfront amount

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Nicole won a lottery that would pay her $25,000 in 2 years and $12,200 in 6 years. The lottery company had another option where she could get an upfront amount now and another $15,500 in 3 years.

Calculate the upfront amount that she would receive now from the second option, assuming that money is worth 2.00% compounded semi-annually.

Reference no: EM132494811

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