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Suppose you win the lottery and are given a choice of a receiving a lump sum payment of $10,000,000 now, or receiving 20 equal annual
Suppose you win the lottery and are given a choice of a receiving a lump sum payment of $10,000,000 now, or receiving 20 equal annual payments at the end of each of the next 20 years. Assuming an annual discount rate of 6% compounded annually, below what amount of annual payment would you choose the lump sum payment
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