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Jill has discovered that she holds the winning lottery ticket. Lottery company has offered her an option to take out the winnings in annual payments
Jill has discovered that she holds the winning lottery ticket. Lottery company has offered her an option to take out the winnings in annual payments of $ over the next years.
If Jill's opportunity cost is per year what is the present value of this annuity cash flow?
Assume payments are at the end of each year.
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