You win the 20 million state lottery and you have a choice, Business Economics

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You win the 20 million state lottery and you have a choice

You win the $20 million state lottery, and you have a choice of taking an amount of money per year for the next 20 years or a flat payment now. The flat payment that the state offers you is $9.82 million.

A. What discount rate is the state using?

B. Should you take the money or the annuity, and why?

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Business Economics: You win the 20 million state lottery and you have a choice

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Business Economics: You win the 20 million state lottery and you have a choice

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