Present value of an annuity

On January $1,$ you win $$43,750,000$ in the state lottery. The $$43,750,000$ prize will be paid in equal installments of $$6,250,000$ over $7$ 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.

X$$

Open spreadsheet

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