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Congratulations! You just won the Pennsylvania Lotto Wild Ca$h Multiplier their newest scratch-off game. The prize consists of 26 annual payments of $41,500 each. If
Congratulations! You just won the Pennsylvania Lotto Wild Ca$h Multiplier their newest scratch-off game. The prize consists of 26 annual payments of $41,500 each. If the interest rate is 5.8 percent, what is the present value of the Wild Ca$h Multiplier prize if you receive the first annual payment in exactly 6 years? $392,072.51 $428,973.45 $392,377.69 $415,135.60 $597,735.29
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