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Prizes are often not worth as much as claimed. What is the value of a prize of $5,000,000 that is to be received in 20
Prizes are often not "worth" as much as claimed. What is the value of a prize of $5,000,000 that is to be received in 20 equal yearly payments, with the first payment beginning today? Assume an interest rate of 7%.
$2,833,898.81 A
$2,911,015.68 B
$2,609,144.14 C
$2,738,304.13 D
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