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Suppose that you have just won a lottery with an advertised

Paper help Economics Suppose that you have just won a lottery with an advertised

Economics

Suppose that you have just won a lottery with an advertised

Suppose that you have just won a lottery with an advertised payoff of $20,000,000; however, there i… Show more Suppose that you have just won a lottery with an advertised payoff of $20,000,000; however, there is a bit of a catch you are not paid the $20,000,000 right away but in installments of $1,000,000 over 20 years, paid at the beginning of each year. Assume the interest rate (and your discount rate) is 10 percent what is the actual payoff? • Show less

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