You hit the jackpot and you are offered a life payment of


You hit the Jackpot and you are offered a life payment of $50,000 per year. Or you can request one payment today (lump sum) to be paid immediately. How much would you request if the interest rate is 3.4% per year? (Explain answer)

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Business Economics: You hit the jackpot and you are offered a life payment of
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