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You win the lottery. You can choose between getting a lump sum of $ 3 , 4 8 7 , 7 9 1 now or

You win the lottery. You can choose between getting a lump sum of $3,487,791 now or getting
$500,000 every year for 10 years starting one year from now. If you take the money now and invest
it, you'll expect an annual retrun of 7%. What is the present value of the yearly payments? Would
you pick the lump sum today or annual payments?

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