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Discuss what is the current value of her winnings

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Reference no: EM131799722

Rita Gonzales won the $78 million lottery. She is to receive $2.9 million a year for the next 25 years plus an additional lump sum payment of $5.5 million after 25 years. The discount rate is 9 percent.

What is the current value of her winnings? Calculate your final answer using the financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Reference no: EM131799722

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