You will buy a lottery ticket. If you win, you have a choice of receiv

You will buy a lottery ticket. If you win, you have a choice of receiving $995,000 now or three equal end-of-year payments of $400,000. You should take the payments

A)

because $1,200,000 is greater than $995,000.
B)

if you earn 20% or more on your investments.
C)

if you earn 11% or more on your investments.
D)

if you earn less than 10% on your investments.

 

 

ANSWER

D

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