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Posted on Aug 22, 2024

Your friend just won the lottery. He has a choice of receiving $ 1 6 1 1 1 8 a year for the next 1

Your friend just won the lottery. He has a choice of receiving $

161118

a year for the next

11

years or a lump sum today. The lottery uses a

6 %

discount rate. What would be the lump sum your friend would receive?

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