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A lottery jackpot of $5,000,000 can either be claimed as $500,000 payments at the end...

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Accounting

A lottery jackpot of $5,000,000 can either be claimed as $500,000 payments at the end of each of the next 10 years, or by accepting a lump sum of $3,500,000 now. If interest rates will be 6.4% over the next 10 years, which option is better?

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