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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Nature Of Mathematics

ISBN: 9781133947257

13th Edition

Authors: Karl J. Smith

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Question Posted: Jan 28, 2024 01:03 AM

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A ($ 1,000,000) lottery prize pays ($ 50,000) per year for the next 20 years. If the

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The present value PV of a series of future payments also known as an annui...View the full answer

Nature Of Mathematics

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