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A lottery winner can take $ 6 million now or be paid $ 6 0 0 , 0 0 0 at the end of each
A lottery winner can take $ million now or be paid $ at the end of each of the next years. The winner calculates the internal rate of return IRR of taking the money at the end of each year and, estimating that the discount rate across this period will be decides to take the money at the end of each year. Was her decision correct?Question
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