You are selling your house. The Smiths have offered you $200,000. They will pay you immediately. The Joneses have offered you $275,000, but they can not pay you until three years from today. The...

You are selling your house. The Smiths have offered you $200,000. They will pay you
immediately. The Joneses have offered you $275,000, but they can not pay you until three years
from today. The interest rate is 12 percent. Which offer should you choose?