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A $1,000,000 lottery prize pays $50,000 per year for the next 20 years.If the current rate of return is 6.75%, what is the present value

A $1,000,000 lottery prize pays $50,000 per year for the next 20 years.If the current rate of return is 6.75%, what is the present value of this prize/ (Assume the lottery pays out as an ordinary annuity, Roud your answer to the nearest cent.)

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