the top prize for the state lottery is 1 0 8 , 5 0 0 , 0
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Question:
the top prize for the state lottery is You have decided it is time for you to take a chance and purchase a ticket. Before you purchase the ticket, you must decide whether to choose the cash option or the annual payment option If you choose the annual payments option and win, you will receive in equal payments of one payment today and one payment at the end of the next years. if you choose the cash payment, you will receive a onetime lump sum payment of you can invest the proceeds and earn At what interest rate would you be indifferent between the cash and annual payments option?
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