Question
Monique has just won the Cagayan de Oro lottery and has 3 award options to choose from. She can elect to receive a lump sum
Monique has just won the Cagayan de Oro lottery and has 3 award options to choose from. She can elect to receive a lump sum payment today of P61 million, 10 annual end-of- year payments of P8 million or 30 annual end-of-year payments of P5.5 million. If Monique expects to earn a 9% annual return on her investments, which option should she choose?
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Focus On Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart
5th Edition
0077861744, 978-0077861742
