Question: 1) Explain why a dollar today is not the same as a dollar a year from now. 2) A surprisingly large number of lottery winners

1) Explain why a dollar today is not the same as a dollar a year from now.

2) A surprisingly large number of lottery winners find themselves in severe financial straits within a few years of winning the lottery. What advice, if any, would you give to these now luckless individuals? Why do so many lottery winners end up deeply in debt?

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