A lottery has two options for winners collecting their prize:Option A: $20 000 quarterly payments...
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A lottery has two options for winners collecting their prize:Option A: $20 000 quarterly payments for lifeOption B: $1 700 000 in one lump sumThe current interest rate is 3.48%/a compounded quarterly. Which option would yourecommend to Sharon who is the sole winner of the lottery and expects to live another40 years? Show all your work for full marks!
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