You bought an annuity selling at $4,304.59 today that promises to make equal payments at the beginning of each year for the next six years (N). If the annuity's appropriate interest rate (1) remains at 11.00% during this time, then the value of the annual annuity payment (PMT) is You just won the lottery. Congratulations! The jackpot is $35,000,000, paid in six equal annual payments. The first payment on the lottery jackpot will be made today. In present value terms, you really won assuming annual interest rate of 11.00%. Flash Player MAC 32,0,0,433 033.34.1 2004-2016 ApllaAll rights reserved 2013 Cangage Learning except as noted. All rights