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A lottery offers a $ 1 , 0 0 0 , 0 0 0 prize to be paid in 2 0 equal installments of $

A lottery offers a $1,000,000 prize to be paid in 20 equal installments of $50,000 at the end of each year. What is the future value of this annuity if the current annual rate is 7%?(Round your answer to the nearest cent.)

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