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Marcus has won a $ 3 , 0 0 0 , 0 0 0 state lottery. He can take his prize as either 1 5

Marcus has won a $3,000,000 state lottery. He can take his prize as either 15 yearly payments of $200,000 or a lump sum of $1,360,000. Which is the better option? Assume an interest rate of 12%.

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