A lottery winner is offered a choice of either receiving $20,500 at the beginning of every year
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A lottery winner is offered a choice of either receiving $20,500 at the beginning of every year for ten years or receiving $18,000 at the beginning of every six months for five years. If the interest rate is 4.4% compounded quarterly, which choice is economically better (in current value), and by what amount?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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