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Posted on Jul 11, 2024

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

JackpotAmount InterestRate Equal AnnualPayments Present Value(in dollars)

$16,000,000 7%. 20. $

$16,000,000. 11%. 20. $

$16,000,000 7%. 25. $

$16,000,000. 11% 25. $

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