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Find the cash value of the lottery jackpots given below. Year jackpot payments begin immediately. Assume the lottery can invest at the given interest rates.

Find the cash value of the lottery jackpots given below. Year jackpot payments begin immediately. Assume the lottery can invest at the given interest rates.

Jackpot amount:$1,000,000. Interest Rate is 8%. Equal annual payments: 20.

Jackpot amount:$1,000,000.Interest Rate is 12%.Equal annual payments: 20

Jackpot amount:$1,000,000.Interest Rate is 8%.Equal annual payments: 25

Jackpot amount:$1,000,000.Interest Rate is 12%.Equal annual payments: 25

What is the present value (in dollars) in each scenario.

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