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What is the present value of your winnings

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You just won the lottery, which promises you $260,000.00 per year for the next 20 years, starting today. That is, this is an annuity due. If your discount rate is 7.00%, what is the "present value" of your winnings?

$3,223,973

$2,754,443

$3,229,548

$3,088,082

$2,947,254

Reference no: EM13769139

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