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Shelley wants to cash in her winning lottery ticket she can

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What is the equivalent lump-sum payment?Shelley wants to cash in her winning lottery ticket. She can either receive 10, $100,000 semiannual payments starting today, or she can receive a lump-sum payment now based on a 6% annual interest rate. What is the equivalent lump-sum payment?

Reference no: EM13603259

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