Question: P 4 A . 1 5 Congratulations, you have won the lottery! Would you rather have $ 8 0 million spread out in 2 0

P4A.15 Congratulations, you have won the lottery! Would you rather have $80 million
spread out in 20 annual payments of $4 million, with the first payment coming one
year from now, or $60 million paid out as a lump sum today? (Assume a 3.5% dis-
count rate.)
P4A.15 Congratulations, you have won the lottery! Would you rather have

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