You have just won the lottery. At the beginning of the next 30 years, you will receive a payment of $90,000 per year ($90,000*30=$2.7 million). Or you are given a choice to accept today (Present Value) of $1.4 million? Which of these choices you will make and why?

Answer rating: 100% (QA)

The decision between receiving annual payments of 90000 for the next 30 years or taking a lump sum ... View the full answer