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You just won a contest. The prize is a lump sum payment of $ 56,513 , however, you will not receive this payment for 30
You just won a contest. The prize is a lump sum payment of $ 56,513 , however, you will not receive this payment for 30 years. Compute the present value of your prize assuming a discount rate of 10 percent per annum. (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). please show work.
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