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You Win the Lottery,which Pays $1 Million in 20 Annual

Question 77

Multiple Choice

You win the lottery,which pays $1 million in 20 annual $50,000 payments.Your friends ask how much that would be if you received a single lump sum payment today.You do not have your calculator,but you show them the following equation to help them solve it themselves,assuming the interest rate is 10 percent:


A) You win the lottery,which pays $1 million in 20 annual $50,000 payments.Your friends ask how much that would be if you received a single lump sum payment today.You do not have your calculator,but you show them the following equation to help them solve it themselves,assuming the interest rate is 10 percent: A) B) C) D) E) Either a or b is correct.
B) You win the lottery,which pays $1 million in 20 annual $50,000 payments.Your friends ask how much that would be if you received a single lump sum payment today.You do not have your calculator,but you show them the following equation to help them solve it themselves,assuming the interest rate is 10 percent: A) B) C) D) E) Either a or b is correct.
C) You win the lottery,which pays $1 million in 20 annual $50,000 payments.Your friends ask how much that would be if you received a single lump sum payment today.You do not have your calculator,but you show them the following equation to help them solve it themselves,assuming the interest rate is 10 percent: A) B) C) D) E) Either a or b is correct.
D) You win the lottery,which pays $1 million in 20 annual $50,000 payments.Your friends ask how much that would be if you received a single lump sum payment today.You do not have your calculator,but you show them the following equation to help them solve it themselves,assuming the interest rate is 10 percent: A) B) C) D) E) Either a or b is correct.
E) Either a or b is correct.

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