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4. You have just won the $1,000,000 first prize in the Centennial Lottery. However, the prize will be awarded on your 70th birthday, which will

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4. You have just won the $1,000,000 first prize in the Centennial Lottery. However, the prize will be awarded on your 70th birthday, which will be 50 years from now (you are 20 years old). What is the present value of your windfall if the appropriate compound discount rate is 9%

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