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2-12. You've won a $20,000, 000 lottery, and have the option of choosing an annual payment of payment of $10, 000, 000 today. You figure

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2-12. You've won a $20,000, 000 lottery, and have the option of choosing an annual payment of payment of $10, 000, 000 today. You figure you can $1,000, 000 for 20 years, or a make 7.7% in the equity market. Which option should you choose? lump sum

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