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9. Your friend has won the lottery and has been given several payment options for collecting his prize. Which of the following options should he
9. Your friend has won the lottery and has been given several payment options for collecting his prize. Which of the following options should he select? Assume that the current interest rate is 5%, compounded annually. a. $5,000 each year for 15 years b. A single payment of $50,000 received today c. A perpetuity that gives you $2000 forever d. A single payment of $70,000 received in 2 years
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