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You cant believe it! You just won the lottery. The award is $100,000, and you will receive it in 30 years. If your discount rate

You cant believe it! You just won the lottery. The award is $100,000, and you will receive it in 30 years. If your discount rate is 1% monthly compounding over the 360 months until you get paid, what is the present value of the lottery winnings worth today?

  • $5, 938.29
  • $36,934.23
  • $11, 987.35
  • $2,781.67

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