You just won a $400,000,000 lottery jackpot. Ignoring taxes, the state of NJ has offered...
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Finance
| You just won a $400,000,000 lottery jackpot. Ignoring taxes, the state of NJ has offered to provide you the $400,000,000 | ||||
| in 20 annual installments of $20,000,000 with first payment right now or a lump sum amount of $243,000,000 today. If | ||||
| your investment rate (discount rate) is 5% which is a better deal for you, taking the annuity due or the lump sum. SHOW WORK | ||||
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