Congratulations! Youve just won the $15 million first prize in the Subscriptions R Us Sweepstakes. Unfortunately, the

Question:

Congratulations! You’ve just won the $15 million first prize in the Subscriptions R Us Sweepstakes. Unfortunately, the sweepstakes will actually give you the $15 million in $375,000 annual installments over the next 40 years, beginning next year. If your appropriate discount rate is 11 percent per year, how much money did you really win?

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