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On January 1, you win $3,200,000 in the state lottery. The $3,200,000 prize will be paid in equal installments of $320,000 over 10 years.
On January 1, you win $3,200,000 in the state lottery. The $3,200,000 prize will be paid in equal installments of $320,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is 2%, determine the present value of your winrengs. Use the present value tables in Exhibe 7. Round to the nearest whole dollar,
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
13th edition
133428532, 978-0133428537
