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Present Value of Multiple Payments: Andrew Robinson has just won the $1 million NC Lottery. He will receive the money over three years in the

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Present Value of Multiple Payments: Andrew Robinson has just won the $1 million NC Lottery. He will receive the money over three years in the following end of the year payments: Year 1$250,000. Year 2$350,000 and Year 3$400,000. After looking at the payout, Andrew realized the real present value will not be $1 million after three years, especially with discount rates at 6.5%. What is the present value of Andrew's winnings? $795,023.34 $874,462.17 $812,980.01 $823,108.90

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