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You have just won the lottery. You will receive $2,450,000 today, and then receive 40 payments of $1,225,000 These payments will start one year from now and will be paid every six months. A representative from Greenleaf Investments has offered to purchase all the payments from you for $25 million. The interest rate is a 9 percent APR compounded daily. Assume there are 12 months in a year, each with 30 days. Should you take the offer?

Reference no: EM131412141

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