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Cassie just won the lottery, and she must choose between three award options. she can elect to receive a lump sum today of $61 million,

Cassie just won the lottery, and she must choose between three award options. she can elect to receive a lump sum today of $61 million, to receive 10 end of year payments of $9.5 million, or to receive 30 end of year payments of 5.5 million. (a) if she thinks she can earn 7% annually, which would she choose? (b) if she expects to earn 8% annually, which is the best choice? (c) if she expects to earn 9% annually, which option would you recommend? (d) explain how interest rates influence the optimal choice

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