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What is the present worth of joe winnings

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Reference no: EM133080211

Joe Grant won the state lottery for $20M. He will receive $600,000 per year after taxes for 20 years. If his expected annual interest rate is 8.75%, what is the present worth of Joe's winnings? Write your answer in dollars to the nearest integer, e.g. $ 123

Reference no: EM133080211

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