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Congratulations! You have just won a $ 2 0 million Powerball Lottery. You have a choice of payouts. You can either take a $ 1
Congratulations! You have just won a $ million Powerball Lottery. You have a choice of payouts. You can either take a $ million lumpsum today or you can receive an annuity of $ million for the next years
starting at t Assuming a discount rate of which one should you choose? What if the annuity grows at per year? Please show all calculations.
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