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1.On a recent trip to the united States, you purchased a ticket in a state lottery.Now you discover that you are the lucky winner of
1.On a recent trip to the united States, you purchased a ticket in a state lottery.Now you discover that you are the lucky winner of the $30 million prize.You can take your prize money either as (a) 30 payments of $1 million per year (starting today), or (b) $15 million paid today.If the interest rate is 8%, which option should you take.Show calculations
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