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ABC Lottery Corporation runs the Millionaire Life lottery. The winner of the Grand Prize can choose either $1,000,000 per year for 25 years or a

ABC Lottery Corporation runs the "Millionaire Life" lottery. The winner of the Grand Prize can choose either $1,000,000 per year for 25 years or a single cash payment of $17,000,000. Which option should be chosen if the payments are made at the beginning of each year and, on low-risk investments, money can earn 3.2% compounded annually

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