=+LG 3 E53 Lisi Ji just won $12 million in the Hong Kong mega lottery. She is

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=+LG 3 E5–3 Lisi Ji just won $12 million in the Hong Kong mega lottery. She is given the option of receiving a lump sum immediately, or she can elect to receive an annual payment of $1 million at the end of each year for the next 15 years. If Lisi can earn 8% annually on her investments, which option should she take?

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Principles Of Managerial Finance

ISBN: 9781292261515

15th Global Edition

Authors: Chad J. Zutter, Scott Smart

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