The lottery administration

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Reference no: EM131862580

You just won a lottery for $60 million. You have a choice between taking $30 million to day or $2 million per year over the next 30 years. You have talked to a bank and they are willing to make you a loan at 5% in exchange for the $2 million annuity. Should you take the $30 million from the lottery administration or take the $2 million annuit y and “sell” it to the bank? Be sure to explain your answer.

Reference no: EM131862580

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