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Find what is the present value of that payment

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Problem 1: You won the lottery and promised single payment of $10,000,000, 10 and 1/2 years from today (i.e, the one-time payment occurs 10 and 6 months from today). What is the present value of that payment if you have a 6%/year required rate of return?

Reference no: EM132988444

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