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Consider a person age 40 who wins a $X-lottery and elects to receive payments of 1,000 at the beginning of each year for 10

Consider a person age 40 who wins a $X-lottery and elects to receive payments of 1,000 at the beginning of each year for 10 y

Consider a person age 40 who wins a $X-lottery and elects to receive payments of 1,000 at the beginning of each year for 10 years certain and continuous thereafter for life. Given that A40 = 0.30 A50 = 0.35 A' 40:10 = 0.09 and i= 0.04 Calculate the amount of the lottery ($X) he wins

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