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Carol Jenkins, a lottery winner, will receive the following payments over the next seven years. If she can invest her cash flows in a fund
Carol Jenkins, a lottery winner, will receive the following payments over the next seven years. If she can invest her cash flows in a fund that will earn 9.5 percent annually, what is the present value of her winnings? (Round answer to 2 decimal places, e.g. 15.25.)
1 | 2 | 3 | 4 | 5 | 6 | 7 | ||||||||
Year | ||||||||||||||
$213,000 | $284,000 | $225,000 | $275,000 | $288,000 | $414,000 | $598,000 |
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