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You just have won the PA lottery. This provides a payout of $50,000 per year for 20 years beginning immediately. What kind of annuity does

You just have won the PA lottery. This provides a payout of $50,000 per year for 20 years beginning immediately. What kind of annuity does this represent?

What factors should you consider as you make the decision to take either the annuity or a lump sum payable immediately?

Give at least 5 reasons for each alternative.

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