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Shawn has won a lottery paying him $10,000 per month for the next 20 years. He'd rather have the whole amount in one lump sum
Shawn has won a lottery paying him $10,000 per month for the next 20 years. He'd rather have the whole amount in one lump sum today. If the current interest rate is 8.2%, how much money can he hope to get?
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To calculate the lump sum that Shawn can expect to receive today we need to use the concept of prese...
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
