Compute the annual payment
Course:- Accounting Basics
Reference No.:- EM132231829

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Question - You won the lottery for 300 million. You can take a lump sum today in the amount of $92,495,600(ignore the income tax). Or you can receive an annual payment amount (annuity) for the next 30 years. Calculate the annual payment based on 4% rate. Which option would you choose and why?

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