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Business, 28.12.2020 17:30 Shazrts2371

You just won a state lottery! The lottery offers you a choice: you may choose a lump sum today, or $89 million in 26 equal annual installments at the end of each year. Assume the funds can be invested (yield) at an annual rate of 7.65%. What is the lump sum that would equal the present value of the annual installments

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You just won a state lottery! The lottery offers you a choice: you may choose a lump sum today, or $...

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