Question: Thank you so much for answer! 2. Exercise Two: After winning the lottery, you are promised to receive $500,000 semi- annually for the next 30

Thank you so much for answer!

2. Exercise Two: After winning the lottery, you are promised to receive $500,000 semi- annually for the next 30 years - should you choose your award to be paid in future installments. If you rather have the total amount disbursed in a single lump sum today -how much would this payment be? Assume that the interest rate is 4.15%

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