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You have won a lottery and will receive 20 annual payments of $50,000, starting today and ending in 19 years. If the relevant annual discount
You have won a lottery and will receive 20 annual payments of $50,000, starting today and ending in 19 years. If the relevant annual discount rate is 3.0%, what is the present value of these winnings? Choose the answer that is closest. Group of answer choices:
$730,000
$770,000
$820,000
$870,000
$920,000
$1,000,000
$1,050,000
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