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When calculating the value of the Powerball lottery prize, we assumed that the first of the payments occurred at the end of 1 year. However,
When calculating the value of the Powerball lottery prize, we assumed that the first of the payments occurred at the end of 1 year. However, the winners of the lottery would not in fact have needed to wait a year before receiving their first payment. They would have gotten their first installment of $11.828 million up front, and the remaining payments would have been spread over the following 24 years. Recalculate the value of the prize
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