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Lucky Larry wins $6,000,000 in a state lottery. The standard way in which the state pays such lottery winnings is at a constant rate of
Lucky Larry wins $6,000,000 in a state lottery. The standard way in which the state pays such lottery winnings is at a constant rate of $240,000 per year for 25 years. Round your answer to the nearest $10. If Lucky invests each payment from the state at 6% compounded continuously, what is the accumulated future value of the income stream? Preview What is the accumulated present value of the income stream at 6%, compounded continuously? (This amount represents what the state has to invest at the start of its lottery payments, assuming the 6% interest rate holds.) Preview Points possible: 10 License This is attemnt 1 of 5
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