Business, 08.03.2021 22:10 tessthetoast

You just won a lottery that promises to pay you $1 million exactly 10 years from today. Because the $1 million payment is guaranteed by the state in which you live, opportunities exist to sell the claim today for an immediate lump-sum cash payment. What is the least you will sell your claim for if you could earn 8.73 % on similar-risk investments during the 10-year period

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You just won a lottery that promises to pay you $1 million exactly 10 years from today. Because the...