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QUESTION
Congratulations, you've just won the California Lottery. You can take 50% of the jackpot total now, or 1% of the jackpot in annual payments forever.
Congratulations, you've just won the California Lottery. You can take 50% of the jackpot total
now, or 1% of the jackpot in annual payments forever. What interest rate makes you indifferent
between these two alternatives?
