Winners of the georgia lotto drawing are given the choice, Ask an Expert

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Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 19 years or as a? lump-sum cash option amount. The cash option amount is determined by discounting the annual winning payment at 9?% over 19 years. This week the lottery is worth ?$3 million to a single winner. What would the cash option payout? be?

The cash option payout would be ?$ ? (Round to the nearest? cent).

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92805329

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