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November 23, 2014

Homework Help: Accounting

Posted by Jessica on Monday, July 4, 2011 at 2:42pm.

you have just won the National Publisher's Sweepstakes. You have two options, you can receive ten, $500,000 semiannual payments starting today, or you can take your winnings in a lump-sum payment now based on 7% annual interest rate. Determine the equivalent lump-sum payments?

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