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You have just won the Grand Lotto. Although the prize is advertised as $50 million, you actually get $20 million now and $1 million per
You have just won the Grand Lotto. Although the prize is advertised as $50 million, you actually get $20 million now and $1 million per year for the next 30 years (starting one year from now). Your discount rate is 6%. What is present value of your winnings?
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