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8. Mark Young has just won the state lottery, paying $50,000 a year for 10 years. He is to receive his first payment five years
8. Mark Young has just won the state lottery, paying $50,000 a year for 10 years. He is to receive his first payment five years from today. If the interest rate is 8 percent and compounded quarterly, what is the true value of the lottery? (6 points)
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