in may 1992, a 60-year-old nurse plunked down $12 in a Reno casino and walked away with the biggest jackpot to that date- $9.3 million. The prize wasn't really worth $9.3 million. that sum was to be paid in 20 annual installments of $465,000 each. What is the present value of the jackpot? The interest rate at the time was about 8%