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your friend just won the lottery. he has a choice of receiving $214,403 a year for...

your friend just won the lottery. he has a choice of receiving $214,403 a year for the next 23 years or a lump sum today. the lottery uses a 14% discount. What would be the lump sum your friend receives

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Answer #1

Lumpsum amount he will receive = $1,456,237.28924.

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