I recently found a real-life advertisement in the newspaper: (Only the phone number has been changed.) Suppose
Question:
I recently found a real-life advertisement in the newspaper:
(Only the phone number has been changed.) Suppose that you have won a \(\$ 20,000,000\) lottery, paid in 20 annual installments. How much would be a fair price to be paid today for the assignment of this prize? Assume the money could be invested at 5%.
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