How large lump sum have to be to take it yearly payments


You have won $386 million in the Mega lottery, to be paid outin 20 equal yearly installments. You are offered a lump sumpayment instead. If your required rate of return is 6.2%, how large doesthe lump sum have to be for you to take it over the yearly payments?

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Finance Basics: How large lump sum have to be to take it yearly payments
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