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A lottery pays $20,000 annually over the next 14 years. The annual interest rate is 5.20% and the first payment is made at the end
A lottery pays $20,000 annually over the next 14 years. The annual interest rate is 5.20% and the first payment is made at the end of the first year. What is the present value of this lottery?
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
