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You just won the lottery. The prize is 20 equal payments of $50,000 with the first to be received today. What is the present value

You just won the lottery. The prize is 20 equal payments of $50,000 with the first to be received today. What is the present value of the prize if the discount rate is 8%?

_____________________________

50,000 _

N

1/Y

CPT _

Answer: _______________

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