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You just won the lottery. To supplement your income you will receive twenty payments of $300,000 to be paid at the end of each of
You just won the lottery. To supplement your income you will receive twenty payments of $300,000 to be paid at the end of each of the next twenty years. Using a discount rate of 6%, calculate the present value of the annuity.
a. $3,231,623
b. $3,293,984
c. $3,000,000
d. $2,975,754
e. $3,440,976
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