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Manuel just won the lottery and the prize was $ 1 million. You have the option of receiving a lump sum of $ 312,950 or
Manuel just won the lottery and the prize was $ 1 million. You have the option of receiving a lump sum of $ 312,950 or $ 50,000 per year for the next 20 years. If Miguel can invest the single amount at 9% or invest the annual payments at 7%; Which one should I choose? a. one-time amount of 312,950 b. b. annual payments of 50,000
a. one-time amount of 312,950
b. b. annual payments of 50,000
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