Wednesday, 2 October 2019

"A woman wins the lottery worth $1.42 million. The woman receives an immediate check for $310,000, and

"A woman wins the lottery worth $1.42 million. The woman receives an immediate check for $310,000, and she plans to receive 19 annual checks of $58,421, with the first check coming exactly one year from now. A buyer offers to purchase the 19 remaining checks of $58,421. If the woman can deposit the money from that sale (which she would receive immediately) in an account that earns 7% interest, what would be the least amount of money she should accept to sell the forthcoming 19 checks?"

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