matt29wang matt29wang
  • 12-01-2024
  • Mathematics
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Ellen won a lottery that will pay her $100,000 a year for 20 years, or she can accept $1,500,000 today. (10 marks) Assuming she can earn 2.5% and maximizing her winnings is the only consideration, which offer should she accept? Show your calculations. Assuming she can earn 3%, what would be the lump sum today equivalent to the 20 payments of $100,000?

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