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Congratulations. You just won the NYS lottery: The lottery pays you $1,000,000 per year for the next 20 years. If interest rates are stable at

Congratulations. You just won the NYS lottery: The lottery pays you $1,000,000 per year for the next 20 years. If interest rates are stable at 4% for the next 20 years, the present value of your winnings is closest to:

$5.5 million
$13.5 milion
$1.0 million
$20.0 million

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