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10 Apr 2020
Years after you win the lottery, a friend in another country calls to ask your advice. By wild coincidence, she has just won another lottery with the same payout schemes. She must make a quick decision about whether to collect her money under the lump sum or the payments over time. What is the best advice to give your friend?
1. The lump sum is always better.
2. The payments over time are always better.
3. It will depend on the interest rate;
4. advise her to get a calculator.
5. None of these answers is good advice.
Years after you win the lottery, a friend in another country calls to ask your advice. By wild coincidence, she has just won another lottery with the same payout schemes. She must make a quick decision about whether to collect her money under the lump sum or the payments over time. What is the best advice to give your friend?
1. The lump sum is always better.
2. The payments over time are always better.
3. It will depend on the interest rate;
4. advise her to get a calculator.
5. None of these answers is good advice.
Darryn D'SouzaLv10
17 Feb 2021
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