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Mama just won the state lottery and has elected to receive $50,000 per year for 20 years in the form of an annuity due. What

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Mama just won the state lottery and has elected to receive $50,000 per year for 20 years in the form of an annuity due. What is the present value of this stream of payments if money can earn 7 percent annual interest? $977,665 $500,000 $566,780 $779,664

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