Congratulations, you have won $1,000,000
Question # 00493165
Posted By:
Updated on: 03/01/2017 02:55 PM Due on: 03/02/2017
Congratulations, you have won $1,000,000 in Mass Lottery. Our displeasure is to announce that after taxes your winning is $500,000 (use 10% rate)
How would you like that?
One lump sum today?
In 10 annual installments of $50,000?
In 20 semi-annual installments of $25,000? Or, $500,000 in 10 years?
Please provide calculation for each of the options: So, what option do you choose now and why?
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Rating:
/5
Solution: Congratulations, you have won $1,000,000