Explain the centennial lottery

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Reference no: EM13199442

You have just received notification that you have won the $2.1 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 60 years from now. If the appropriate discount rate is 8 percent, the present value of your windfall is

Reference no: EM13199442

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