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You just won a lottery for 69,000,000. The lottery offers a choice of either getting a lump of money now, less than 69 mln), or

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You just won a lottery for 69,000,000. The lottery offers a choice of either getting a lump of money now, less than 69 mln), or receive it at the end of the year. Assume an interest rate of 6.5%. You are trying to decide whether it's better to take the lump sum or the annual payments. What is the minimum payment

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