You Have Just Won the Lottery and Have Three Payout

question 138

Essay

You have just won the lottery and have three payout options:
1.$1,000,000 now
2.$150,000 at the end of each year for the next ten years
3.$2,000,000 at the end of ten years.
What is a common basis for comparison that you can use to decide which option to choose? Explain your answer.

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Definitions:

Asbestosis

A lung disease resulting from the inhalation of asbestos fibers, causing scarring of lung tissue and difficulty breathing.

Construction

The process of building or assembling structures such as buildings, bridges, or roads.

Fireproofing

The process of making materials or structures more resistant to fire through the application of fire-retardant materials, techniques, or treatments.

Textile Industries

are sectors of the economy dedicated to the production of fibers, yarns, fabrics, and the manufacturing of clothing and other textile products.