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13. You have just won the lottery and have been offered two options in receiving your payment: 1. Receive $50,000 today 2. Receive $10,000 at

13. You have just won the lottery and have been offered two options in receiving your payment:

1. Receive $50,000 today

2. Receive $10,000 at the end of each of the next ten years.

Assuming an appropriate interest rate of 7%, Which option would you choose and why? (4 pts.)

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