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You have just received notification that you have won the $ 1 M first prize in the Lottery. However, the prize will be awarded on

You have just received notification that you have won the $

1

M first prize in the Lottery. However, the prize will be awarded on your

100 *

birthday

(

assuming you are around to collect

)

;

80

years from now. What is the present value of your prize if the discount rate is

10 % ?

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