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Congratulations! You ve won the lottery. The prize is your choice: ( 1 ) $ 1 0 , 0 0 0 / yr ( EOY

Congratulations! Youve won the lottery. The prize is your choice: (1) $10,000/yr (EOY) for 10 years (2) $75,000 up front. You can bank money at 7% compounded annually. Which to choose? (Too many steps? What about for 20 yrs,30 yrs?)

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