Multiple Choice
A lottery winner receives $20 million in equal payments spread out over 20 years. The present value of the winnings is
A) equal to $20 million.
B) greater than $20 million.
C) less than $20 million.
D) either greater than or less than $20 million, depending on the discount rate used for the calculation.
Correct Answer:
Verified
Correct Answer:
Verified
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