Options for receiving winnings

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Reference no: EM13971265

You have just won the lottery. You have two options for receiving your winnings. You can receive a lump sum of $5M today or receive payments of $53,000 a month for 10 years starting today. You can earn 5 percent (APR) on your money. Which option should you take and why? (pick closest answer)

Reference no: EM13971265

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