eBook Calculator Present Value of an Annuity On lanuary I you win $4,300,000 in the state lottery. The s4, 300,000 prize wll be pai year, beginning on December 31. If the current interest rate is 8%, determine the pr d in equal insallments of $430,000 over 10 years. The payments will be made on December 31 of each esent value o your winnings. Use the present value tables n Exhibit 7, Round to the nearest hole dollar Feedback Check My WWork Review the time value of money concept. in the future. of money concept recognizes that cash received today is worth more than the same amount of cash to be Previous Next All work saved