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Question 16 4 pts Milt just hit the lottery jackpot. The lottery is offering to pay him $2.5 million per year for the next 25
Question 16 4 pts Milt just hit the lottery jackpot. The lottery is offering to pay him $2.5 million per year for the next 25 years, or a single payment of $25 million right now. If Milt expects to earn 4.3% annual interest on his investments, which option is better and by how much in present value terms? The single payment, by $83.42 million O The annuity, by $36.80 million O The annuity, by $12.85 million O The annuity,by $37.50 million O The single payment, by $29.12 million
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