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Determine the present value of winnings

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Present value of an annuity
On January 1, you win $43,500,000 in state lottery. The $43,500,000 prize will be paid in equal installments of $7,250,000 over six years. The payments will be made on December 31 of each year, beginning on December 31 of the year the current rate is 6%

Question 1: Determine the present value of your winnings. Round your answer to the nearest dollar

Reference no: EM132552620

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