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() Suppose that the State of Florida must pay out winnings of a $1,000,000 lottery. The winner is to receive equal amounts at the end

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() Suppose that the State of Florida must pay out winnings of a $1,000,000 lottery. The winner is to receive equal amounts at the end of each year for the next 20 years in payment of the total prize. If the State can earn 10% a year on its money, how much will it need to invest today in order to be able to make the required payments? (d) An employee of Strauss Company wants to accumulate $400,000 in her retirement account with the company by the time she reaches age 60 in 30 years. If the account can earn an average of 6% per year, compounded monthly, what amount must she deposit at the beginning of each month in the account in order to accomplish this

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