Lottery without Taxes Dan won $2.6 million in a state lottery and must decide between
Chapter 6, Problem 47(choose chapter or problem)
Lottery without Taxes Dan won $2.6 million in a state lottery and must decide between the lump sum payment of $1,326,000 or 26 annual payments of $100,000. Assuming he can invest all proceeds in a retirement plan that pays 8.5% compounded annually, how much will his winnings be worth after 25 years? Which option should he select?
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