When a lottery price is offered as $10,000,000 but will pay out a series of $250,000 payments

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When a lottery price is offered as $10,000,000 but will pay out a series of $250,000 payments over forty years, is it really a $10,000,000 lottery prize?

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Financial Management Core Concepts

ISBN: 978-0133866698

3rd edition

Authors: Raymond M Brooks

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Question Posted: Oct 31, 2017 08:16 AM

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When a lottery price is offered as $10,000,000 but will pay out a series of $250,000 payments

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The present value of the lottery is not worth 100000...View the full answer

Financial Management Core Concepts

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