An ordinary annuity selling at $11,930.70 today promises to make equal payments at the end of each year for the next twelve years (N). If the annuity's appropriate interest rate (1) remains at 9.50% during this time, the annual annuity payment (PMT) will be You just won the lottery. Congratulations. The jackpot is $85,000,000, paid in twelve equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won_$54,168,401.79 -assuming annual interest rate of 9.50%