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Larry just won the lottery and must choose between three award options. He can elect to receive a lump sum today of $45 million, 10
Larry just won the lottery and must choose between three award options. He can elect to receive a lump sum today of $45 million, 10 end-of-year payments of $5m, or 30 end-of-year payments of $2m. If he can earn 10% annually, what is the best option? Clearly list all inputs and explain your answer: N I/Y PV PMT FV
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