Solution-How much money will you receive on specific date

How much money will you receive on specific date of june

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Reference no: EM131569107

Question: On June 1, you win $1 million in a lottery and immediately acquire numerous "friends," one of whom offers you the deal of a lifetime. In return for the million, she'll pay you a cent today, two cents tomorrow, four cents the next day, eight cents the next, and so on, stopping with the last payment on June 21.

(a) Assuming you take this deal, how much money will you receive on June 21?

(b) Should you take the deal? Explain.

Reference no: EM131569107

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How much money will you receive on specific date of june

Reference no: EM131569107

Reference no: EM131569107

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