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Gail has won a lottery that pays her $200,000 at the end of this year, $210,000 at the end of next year, $220,000 the following
Gail has won a lottery that pays her $200,000 at the end of this year, $210,000 at the end of next year, $220,000 the following year, and so on, for 25 years. Leon has offered Gail $3,000,000 today in exchange for all the money she will receive. If Gail can get 9 percent interest on her savings, is this a good deal? Click the icon to view the table of compound interest factors for discrete compounding periods when i=9%. a good deal. Since the present value of the lottery winning is the offer (Round to the nearest dollar as needed.)
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