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Bingel [31]
3 years ago
10

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 lot

tery uses a 15% discount rate. What would be the lump sum your friend would receive?
Business
1 answer:
lisov135 [29]3 years ago
4 0

Answer:

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

Explanation:

500000 \times 20 = 1000000

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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