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You have just won a state lottery! You have the option of receiving equal annual payments of $ 2 2 0 , 0 0 0
You have just won a state lottery! You have the option of receiving equal annual payments of $ for years, or a lump sum amount today. The acceptable interest rate is percent. If the state offers you a onetime payment of $ million today, should you accept it
No because today's value of the annual payments is $
Yes, because today's value of the annual payments is $
Yes, because today's value of the annual payments is $
No because today's value of the annual payments is $
No because today's value of the annual payments is greater than $ million
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