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9. You have just been notified that you won the lottery. You will be paid 10 annual payments of $1,000,000, with the first one starting
9. You have just been notified that you won the lottery. You will be paid 10 annual payments of $1,000,000, with the first one starting today. Using an interest rate of 6.8% (annual compounding), how much did you really win (in terms of present value)?
a. $6,345,879.98 b. $7,571,027.41
c. $8,564,778.01 d. $10,000,000.00
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