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Present value of an annuity On January 1 , you win $ 2 , 9 0 0 , 0 0 0 in the state lottery.
Present value of an annuity
On January you win $ in the state lottery. The $ prize will be paid in equal installments of $ over years. The payments will be made on December of each year, beginning on December of this year. If the current interest rate is determine the present value of your winnings. Use the present value tables in Exhibit A Round to the nearest whole dollar.
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