On June 1, you win $1 million in a lottery and imme- diately acquire numerous "friends," one of whom offers you the deal of a lifetime. In return for the milion, she'll pay you a cent today, two cents tomorrow, four cents the next day, eight cents the next, and so on, stopping with the last payment on June 21.

On June 1, you win $1 million in a lottery and imme- diately acquire numerous "friends," one of whom offers you the deal of a lifetime. In return for the milion, she'll pay you a cent today, two cents tomorrow, four cents the next day, eight cents the next, and so on, stopping with the last payment on June 21.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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