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Business, 25.01.2020 01:31 evazquez

In a recent large powerball lottery, the prize was reported to be worth $590 million, which could be taken in 25 equal annual installments of $23.6 million beginning today or as a single payment today of $334 million. a) what interest rate is the lottery commission using?
b) how would you decide whether to take the 25 year annuity or the lump sum?

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