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Shelley wants to cash in her winning lottery ticket. She can either receive sixteen, $205,000 semiannual payments starting today, or she can receive a single-amount

Shelley wants to cash in her winning lottery ticket. She can either receive sixteen, $205,000 semiannual payments starting today, or she can receive a single-amount payment today based on a 6% annual interest rate. What is the single-amount payment she can receive today?

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