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The $100 million lottery payment that you just won actually pays $10 million per year for 10 years. If the discount rate is 12% and

The $100 million lottery payment that you just won actually pays $10 million per year for 10 years. If the discount rate is 12% and the first payment comes in 6 months, and then semi-annually subsequently, what is the present value of the earnings? What if the first payment comes immediately (annuity due), and the payments remain semi-annual payments?

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