Present value of an annuity

On January 1, you win $42,000,000 in the state lottery. The $42,000,000 prize will be paid in equal installments of $5,250,000 over 8 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 5.5%. 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.