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The $ 5 8 . 0 million lottery payment that you have just won actually pays $ 2 . 9 million per year for 2
The $ million lottery payment that you have just won actually pays $ million per year for years. The interest rate is
If the first payment comes in year, what is the present value of the winnings?
Note: Do not round intermediate calculations. Enter your answer in millions of dollars rounded to decimal places.
What is the present value if the first payment comes immediately?
Note: Do not round intermediate calculations. Enter your answer in millions of dollars rounded to decimal places.
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