You won the lottery and can have your award distributed in two ways. Either a lump sum of $215,000 or a $300,000 annuity that is
You won the lottery and can have your award distributed in two ways. Either a lump sum of $215,000 or a $300,000 annuity that is paid equally at the end of each month for 15 years. If you could earn 8% on your investments, how much is the annuity worth today and which option would you choose?
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Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
