Gregg recently won 1000000 in the lottery he was offered a


Gregg recently won $1,000,000 in the lottery. He was offered a lump sum payment of $1,000,000 today or an annuity of $80,000 per year for 20 years. Use this information to answer questions 4, 5 and 6. Round your answers to the nearest whole dollar.

What is the present value of the lump sum payment?

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Financial Management: Gregg recently won 1000000 in the lottery he was offered a
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