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You won a lottery. You have two options receiving $50,000 at the end of each year for the next 35 years or a lump sum
You won a lottery. You have two options receiving $50,000 at the end of each year for the next 35 years or a lump sum payment today. If your rate of return is 8% what is the minimum amount of lump sum payment you should be willing to accept today?
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