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Money prize is $5,000,000 which can be paid equaly over 20 years ($250,000 each year). First payments will begin today. The annual interest rate is

Money prize is $5,000,000 which can be paid equaly over 20 years ($250,000 each year). First payments will begin today. The annual interest rate is 7% over the 20 years. What is the present value?

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