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You have just won a lottery and you are given two payment options: 1. $ 850,000 now or 2. 10 annual payments of $ 100,000,

You have just won a lottery and you are given two payment options:

1. $ 850,000 now or

2. 10 annual payments of $ 100,000, with the first payment now. If the effective interest rate is 4 %, determine which is the better option

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