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A lottery prize worth $1,200,000 is awarded in payments of $10,000 at the beginning of each month for 10 years. Suppose money is worth 7.8%,

A lottery prize worth $1,200,000 is awarded in payments of $10,000 at the beginning of each month for 10 years. Suppose money is worth 7.8%, compounded monthly. What is the real value of the prize?

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