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Did she really win a million dollars

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Reference no: EM13962112

1. Sally has just won the million-dollar Big Slam jackpot at a gambling casino. The casino will pay her $50,000 per year for 20 years as the payoff. 

Required: 

If Sally can invest money at a 10% rate of return, what is the present value of her winnings? Did she really win a million dollars? Explain.

Reference no: EM13962112

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