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7. CONGRATULATIONS! You will receive a big winning from a lottery. However you are given...

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Finance

7. CONGRATULATIONS! You will receive a big winning from a lottery. However you are given three options:

1) Take the whole winning amount at end of year 1.

2) Take the whole same winning amount at end of year two.

3) You would prefer to get same amount, in few instalments.

You should choose option one or two? Explain your decision with the help of Financial concepts learnt.

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