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If 1 mio euro lottery winning is paid out within 40 years, giving the winner 25 000 euros per year. If the winner would cash

  1. If 1 mio euro lottery winning is paid out within 40 years, giving the winner 25 000 euros per year. If the winner would cash in the winnings at once, as a lump sum, how much can he or she expected to receive, when interest rate is 4%?

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