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2 You Won the Lottery! You have just won the lottery and will receive 30 yearly payments, as follows: you get $1,500,000 in the first
2 You Won the Lottery! You have just won the lottery and will receive 30 yearly payments, as follows: you get $1,500,000 in the first year, after which yearly payments will increase by 2.7% per year. A company specializing in purchasing annuities (yes, they do exist!) offers you instant $14,000,000 in cash to purchase the right to receive your winnings. The relevant interest rate is 3% per year. Will you take the offer
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