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You have won a lottery worth $1,000,000. The amount will be paid to you in equal installments over 20 years. If the interest rate is

You have won a lottery worth $1,000,000. The amount will be paid to you in equal installments over 20 years. If the interest rate is 10% compounded annually, how much will you be paid at the end of each year?

No Excel Please. I am trying to learn for Exam. Thank you!

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