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Your friend just won the lottery. He has a choice of receiving $50,000 a year for the next 20 years or a lump sum today. The lottery uses a 15% discount rate. What would be the lump sum your friend would receive?

Respuesta :

jasonlee41

Answer:

The lump sum would be $1,000,000.

Explanation:

[tex]500000 \times 20 = 1000000[/tex]

It would be $1,000,000 without the discount rate, but I don't know how to subtract a discount rate from a number. Sorry.

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