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A lottery offers the winner a choice between a 150000 cash

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A lottery offers the winner a choice between a $150,000 cash prize or month-end payments of $1200 for 12.5 years, increasing to $1500 per month for the next 12.5 years. Which alternative would you choose if money earns 8.25% compounded monthly over the 25-year period?

Reference no: EM13581757

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