Explain how much are the annual payments worth to you today

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Q. Let us say which you won the lotto for $10 million dollars, also which you had a choice to receive a lump sum today of $5,500,000 [Ignore income taxes] or $500,000 per year for 20 years.

If you can earn 7% per year, Explain how much are the annual payments worth to you today? Which is the better deal? Explain why?

Reference no: EM1396756

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