An ordinary annuity selling at $13,044.14 today promises to make equal payments at the end of each year for the next six years (N). If the annuity's appropriate interest rate (I) remains at 1 1.00% during this time, the annual annuity payment (PMT) will be You just won the lottery. Congratulationsl The jackpot is $60,000,000, paid in six equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won assuming annual interest rate of 11.00%. MAC 310,0,108 2004-2016 Apla. All ights reserved 3 3341 Orade It Now 2013 Cengege Learning escept as noted. All rights reserved