Assume that money earns 4.75% p.a. simple interest and use today as the focal date. a. What was the equivalent value of the payments under option (a) at the focal date? Round to the nearest cent b. What was the equivalent value of the payments under option (b) at the focal date? Round to the nearest cent c. Which option would be economically better for Ian and by how much? O a. Option (a) O b. Option (b) is better by Round to the nearest cent ←

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