Assignment:
Your rich godfather has offered you a choice of one of the three following alternatives: $10,000 now; $2,000 a year for eight yeaers; or $24,000 at the end of eight years. assuming you could earn 11 percent annually, which alterantive should you coose? If you could earn 12 percent annually, would you still choose the same alterantive.
Provide complete and step by step solution for the question and show calculations and use formulas.