Annual payment stream assuming the current interest

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Reference no: EM131182507

If you won a 1000.000 scratch ticket from the mass lottery and they offered you either 20 annual payment of $50,000 or a lump sum payment, how much would the lump sum have to be so that it is equivalent to the $50,000 annual payment stream assuming the current interest rate is %4?

Reference no: EM131182507

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