You have won the lottery! You are offered a choice of $1,000,000 upfront or an annuity of
Fantastic news! We've Found the answer you've been seeking!
Question:
You have won the lottery! You are offered a choice of $1,000,000 upfront or an annuity of $100,000 per year for 20 years. Your personal discount rate is 0.04. If you are an economically rational actor, what will you do?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1259024962
6th Canadian edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
Posted Date: