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You have just received notification that you have won the $1 million first prize in the Centennial Lottery. However, the prize will be awarded on
You have just received notification that you have won the $1 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming youre around to collect), 62 years from now. |
What is the present value of your windfall if the appropriate discount rate is 9 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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