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You have just won the initial School of Finance lottery! You have won $10,000 today, $20,000 four years from today, and $30,000 six years from
You have just won the initial School of Finance lottery! You have won $10,000 today, $20,000 four years from today, and $30,000 six years from today. As an alternative, you can receive your winnings as a 10-year annuity with the first payment received ten years from today. If you require a 6% return on your investment, how much must the annuity pay you each year for you to select that option
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