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ou have just won 10 million dollar in the lottery which promises to pay you 1 million dollar every year for the next 10 years. Have you really won 10 million dollar assume interest ra

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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You have just won 10 million dollar in the lottery which promises to pay you 1 million dollar every year for the next 10 years. Have you really won 10 million dollar assume interest rate is 5%.

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