Multiple Choice
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 lottery uses a 15% discount rate.What would be the lump sum amount your friend would receive?
A) $312,967
B) $316,426
C) $500,000
D) $1,000,000
Correct Answer:
Verified
Correct Answer:
Verified
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