Q.5
Suppose you win the lottery and are given the following three options
Receive 20 million dollars today
Receive 1.5 million dollars per year over the next 20 years, or
Receive 1 million dollars per year indefinitely (being passed on to your herrs).
Which is the best deal, assuming that the annual interest rate is 5%? We answer this by
working through the following sequence of questions
How much is the 5 million dollars received annually over the course of 20 vears worth in
terms of today's dollars, assuming an annual interest rate of 5%?
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Step-by-step explanation:
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