You just won a lottery and have two payout options. You can either take a...
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You just won a lottery and have two payout options. You can either take a $500,000 prize today, or you can choose to wait two years and receive $900,000. If you choose to wait, what will your annual rate of return be? Another way to interpret this question is: if you were to forgo receiving the initial prize now, what would your return be if you received the second (higher) amount at the end of the waiting period
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