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A lottery jackpot of $220 million will be paid out in the following sequence. ...

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Finance

A lottery jackpot of $220 million will be paid out in the following sequence.
Year 1: $20 million
Years 2-5:$30 milloon
After Year 6-7:$40 million
however the winner has the choice to except a lump sum payment right now. If the winner could invest a lump sum payment and earn 7%, what is the minimum lump sum payment the winner should except?

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