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5. You win a lottery that will pay you $10,000 per year (starting one year from today) for 20 years. If your time value
5. You win a lottery that will pay you $10,000 per year (starting one year from today) for 20 years. If your time value of money is X% compounded annually, what would be equivalent one-time payment today? 6. You want to take a $20,000 trip around the world five years from now. If your money market account earns X% per month, what uniform amount do you need to save each month?
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