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The grand prize in the omg lottery is a choice between $1000 paid at the beginning of each month for a period of 10 years

The grand prize in the omg lottery is a choice between $1000 paid at the beginning of each month for a period of 10 years and a lump sum paid immediately. If u can invest at an effective annual interest rate of 5%, what is the minimum lump sum you would be willing to accept as a winner of this lottery

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