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I need help solving this problem Intro You win the Publishers Clearing House Sweepstakes. You can choose between getting a lump sum of $6,464,717 now
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Intro You win the Publishers Clearing House Sweepstakes. You can choose between getting a lump sum of $6,464,717 now or getting $800,000 every year for 10 years, starting one year from now. If you take the money now and invest it, you'll expect to earn an annual return of 4%. Part 1 Attempt 1/10 for 10 pts. What is the present value of the 10 yearly payments Step by Step Solution
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Managerial Finance Essentials
Authors: Charles O. Kroncke, Alan E. Grunewald, Erwin Esser Nemmers
2nd Edition
0829901590, 978-0829901597
