Present Value of an Annuity On January 1, you win $50,000,000 in the state lottery. The $50,000,000 prize will be paid in equal installments of $6,250,000 over eight years. The payments will be made on December 31 of each year, beginning December 31 of this year. If the current interest rate is 12%, determine the present value of your winnings. Use the present value tables inhibit 7. Round to the nearest whole dollar ww the present value of your winnings using an interest rate of 1296 be more than the present value of your winnings using an interest rate of 537