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You have just won the lottery. You can choose between receiving $750,000 today or an annual payment of $50,000 at the end of each of

You have just won the lottery. You can choose between receiving $750,000 today or an annual payment of $50,000 at the end of each of the next twenty years. The interest rate that makes you indifferent between the two is 2.91%. Without doing any calculations, explain which option you would take if the interest rate today was 5%.

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