Jake won $$350,000$ in the lottery! He will receive $$35,000$ each year at the beginning of each of the next $10$ years. At a discounted rate of $5\%,$ what is the present value of the lottery winnings?

ANSWER

$$0\mathrm{.}00$

$\backslash$table$[[$Number of Years,$],[$Number of Periods$/$Year$,],[$Number of Periods,$],[$Annual Interest Rate,$],[$Interest Rate$/$Period$,],[$Payment$,],[$Future Value,$],[$Type $(0=$END; $1=$BEG$),]]$

Present Value