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How much is the sweepstakes actually worth today

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Reference no: EM132999126

Problem 1: Suppose you win a $5 million lottery prize. The money is paid in equal annual beginning-of-year installments over 10 years. If the appropriate discount rate is 6%, how much is the sweepstakes actually worth today?

A) 3,400,846.14
B) 3,680,043.53
C) 3,900,846.14
D) None of the above
E) Not enough information

Reference no: EM132999126

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