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What is the present value of the? winnings

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Question: Celine Dion just won a? "Name That? Tune" contest with a grand prize of ?$280,000. ?However, the contest stipulates that the winner will receive ?$80,000 ?immediately, and the remainder divided equally at the end of each of the next 8 years. Assuming that she can earn 4?% on her? money, what is the present value of her? winnings? What is the present value of the? winnings?

Reference no: EM132765685

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