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Find what is the present value of prize before taxes

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Reference no: EM132983778

Problem 1: You and 11 coworkers just won $19 million ($1,583,333.33 each) from a state lottery. Assuming each person receives their share over 20 years and that the state lottery earns a 3 percent return on its funds, what is the present value of your prize before taxes if you requested the "up front cash" option?

Reference no: EM132983778

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