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Posted on Aug 16, 2024

Arturo won $1,000,000 in the lottery. He was given a choice to receive $300,000 in one-lump sum or $25,000 per year for 40 years. Scenario

Arturo won $1,000,000 in the lottery. He was given a choice to receive $300,000 in one-lump sum or $25,000 per year for 40 years.

Scenario 2: Suppose Arturo decided to deposit the $25,000 once a year for 40 years into an account that paid 1.75% interest compounded annually. How much money would he have after 40 years?

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