Solved: How you want to receive your prize, Finance Basics

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How you want to receive your prize

Problem: Assume you won the lottery for $7M. You have the following two choices in how you want to receive your prize:

1. $350,000 each year for the next 20 years, with the first check received today

2. One lump sum of $4M in cash today.

Which is the better option?

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Finance Basics: How you want to receive your prize

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How you want to receive your prize

Reference No:- TGS02036478

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