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You just won the lottery. You can take your $2 million in a lump sum today, or you can receive $220,000 per year over the next 12 years. Assuming a 6% interest rate, which would you prefer, ignoring tax considerations?

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Mar 13, 2024 09:54 AM

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You just won the lottery. You can take your $2 million in a lump sum today, or

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o determine which option is more advantageous we can calculate the present value of the cash flows f... View the full answer

Microeconomics An Intuitive Approach with Calculus

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