Present value of an annuity

On January $1,$ you win $$31,500,000$ in the state lottery. The $$31,500,000$ prize will be paid in equal installments of $$5,250,000$ over $6$ years. The

payments will be made on December $31$ of each year, beginning on December $31$ of this year. If the current interest rate is $5\%.$ This information has been

collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.

Open spreadsheet

Determine the present value of your winnings. Round your answer to the nearest dollar.

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