You won the lottery, and they agree to give you $50,000 per year at the end of

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You won the lottery, and they agree to give you $50,000 per year at the end of each year for the next 25 years, or you can take a lump sum today. If the lottery uses a discount rate of 6%, what would be the lump sum that you could take today?

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Personal Finance An Integrated Planning Approach

ISBN: 978-0136063032

8th edition

Authors: Ralph R Frasca

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Posted Date: Jan 13, 2021 09:10 AM

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You won the lottery, and they agree to give you $50,000 per year at the end of

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Answer Present Value of lottery Annual Payme... View the full answer

Personal Finance An Integrated Planning Approach

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