A ($ 1,000,000) lottery prize pays ($ 50,000) per year for the next 20 years. If the
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A \(\$ 1,000,000\) lottery prize pays \(\$ 50,000\) per year for the next 20 years. If the current rate of return is \(2.25 \%\), what is the present value of this prize?
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The present value PV of a series of future payments also known as an annui...View the full answer
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