Question: If you win a lottery worth $1,000,000 payable in 15 years and the interest rate is 8% (compounded annually), what is this worth today? Compounded
If you win a lottery worth $1,000,000 payable in 15 years and the interest rate is 8% (compounded annually), what is this worth today? Compounded quarterly? Compounded monthly? Compounded weekly?
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