Supposethatyourfriendjustwonalotterythatclaimstopaythewinner$600.000.Thelottery actually pays the holder of the winning ticket $200.000 immediately and $400.000 two years later. Your friend excitedly says you. "I need all the money right now because I want to make a payment on a house. Since you have saved some money, why don't you just give me $600.000 and I'll give you the ticket. Then you can collect the $600.000 and we'll be even."

a. Shouldyougiveyourfriend$600.000forthewinninglotteryticket?Whyorwhynot?

b. Suppose the interest rate is 6%. What price would you pay for the winning lottery ticket?

c. Suppose the interest rate is 9%. What price would you pay for the winning lottery ticket?

Please help

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