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10.45 Shawn has won a lottery paying him $10,000 per month for the next 20 years. He'd rather have the whole amount in one
10.45 Shawn has won a lottery paying him $10,000 per month for the next 20 years. He'd rather have the whole amount in one lump sum today. If the current interest rate is 8.2%, how much money can he hope to get? Answer given: $1,177,953.55
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
