Kofi won the lottery thisthis morning. The lottery only pays out the winning20 yearsafter you win. If the present value (PV) of Kofi's winnings to be paid out in 20 year is calculated to be $20 million dollars ( PV= 20,000,000) today, how much is Kofi going to be paid 20 years from now which will be equivalent to Kofi's the present value dollars computed?

(In other words, calculate the future value (M) in the formula).

Use an interest rate of 5% in your calculations and please show your work.

Some equations:

PV = M / i

PV = M / (1 + i)^t