Eddie wants to cash in his winning lottery ticket. He can either receive ten, $100,000...
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Eddie wants to cash in his winning lottery ticket. He can either receive ten, $100,000 semiannual payments starting today, or he can receive a lump-sum payment now based on a 6% annual interest rate. What is the equivalent lump-sum payment? when I plug in the interest rate in the calculator should I put 3% because the payments say they are semi annual? can you also show how reach the final answer using the calculator method (pv= n=)
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