About the won the lottery

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Reference no: EM131330546

You have won the lottery and have 3 choices. You can choose to receive $1,000,000 immediately in cash. Your second option is to receive a single payment of $2,000,000 at the end of 15 years. Your third option is to receive payments of $100,000 a year for 15 years. Which option should you choose if your discount rate is 9%? Why?

Reference no: EM131330546

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