If you win $1 million in a lottery and are paid in installments, _____.
A) the future value of these payments is $1 million
B) the present value of these payments equals $1 million if the interest rate is zero
C) the present value of these payments equals $1 million if the interest rate is 10 percent
D) the present value of the payments exceeds $1 million if the interest rate is positive
E) the future value of the payments is less than $1 million if the interest rate is negative
Correct Answer:
Verified
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