Present value of an annuity On 3anuary 1, you win $4,500,000 in the state lottery. The $4,500,000 prize will be paid in equal installments of $450,000 over 10 years. The poyments will be made o December 31 of each year, beginning on December 31 of this year. If the current interest rate is 5%, determine the present value of your winnings. Use the present val. tables in Exthblt 7. Round to the nearest whole dollar. Exhibit 7 Present Value of an Annuity of $1 at Compound Interest Present value of an annuity On 3anuary 1, you win $4,500,000 in the state lottery. The $4,500,000 prize will be paid in equal installments of $450,000 over 10 years. The poyments will be made o December 31 of each year, beginning on December 31 of this year. If the current interest rate is 5%, determine the present value of your winnings. Use the present val. tables in Exthblt 7. Round to the nearest whole dollar. Exhibit 7 Present Value of an Annuity of $1 at Compound Interest