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Helen Martin has just won the Lotto. Her prize pays $43200 at the end of each year for 6 years. In addition, she will receive

Helen Martin has just won the Lotto. Her prize pays $43200 at the end of each year for 6 years. In addition, she will receive a one-time payment of $259200 at the end of 6 years. Using the following factors at 11%, what amount has Helen really won in the Lotto? (round to the nearest dollar)

Type of Cash Flow

Periods

Interest Rate

Factor

PV of $1

6

11%

0.5346

FV of $1

6

11%

1.8704

PV ordinary annuity

6

11%

4.2305

FV ordinary annuity

6

11%

7.9129

PV annuity due

6

11%

4.6959

$667565

$565609

$475200

$321326

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