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Using excel formulas please: Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over twenty years or
Using excel formulas please: Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over twenty years or as a lump-sum cash option amount. The cash option amount is determined by discounting the winning amount at 5% over twenty years. This week the lottery is worth $20 million to a single winner. What would the cash option payout be?
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