SOLUTION: 20.You have won $386 million in the Mega lottery, to be paid out in 20 equal yearly installments. You are offered a lump sum payment instead. If your required rate of return is 6.2
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Question 729321: 20.You have won $386 million in the Mega lottery, to be paid out in 20 equal yearly installments. You are offered a lump sum payment instead. If your required rate of return is 6.2%, how large does the lump sum have to be for you to take it over the yearly payments? Answer by lynnlo(4176) (Show Source):
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