Multiple Choice
Assume that you have just won $5,000,000 in the lottery and will receive $250,000 per year for the next 20 years. How much is your prize worth today if the interest rate is 8%?
A) $1,072,731
B) $2,454,525
C) $2,185,219
D) $1,165,250
Correct Answer:
Verified
Correct Answer:
Verified
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