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3 . Congratulations! You have just won a $40 million lottery and have elected to receive $2 million per year for 20 years Assume that

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3 . Congratulations! You have just won a $40 million lottery and have elected to receive $2 million per year for 20 years Assume that a 4 percent interest rate is used to evaluate the annuity and that you receive each payment at the beginning of the year a . What is the present value of the lottery D . How much interest is earned on the present value to make the $2 million per year payment

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