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Business, 20.02.2020 21:58 hayesvolcano

Recently, a suburban chicago won powerball, a multistate lottery game. the game had rolled over for several weeks, so a hige jackpot was at stake. ticket buyers had the choice between a single ump sum of $104 million or a total of $198 million paid out over 25 years (or $7.92 million per year and the payment is made immediately) should they win the game. the winning couple opted for the lump sum. at what interest rate will those two payment options be equivalent?

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