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You won a lottery that will make equal payments of $2,500 at the end of each year for the next five years. If the annual
You won a lottery that will make equal payments of $2,500 at the end of each year for the next five years. If the annual interest rate stays constant at 5%, what is the value of these payments in today's dollars? Round your answer to the nearest whole dollar. $10,824 $9,200 $11,365 $13,530 You found out that now you are going to receive payments of $6,500 for the next 15 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 13%. What is the present value of these payments? Round your answer to the nearest whole dollar. $64,079 $47,466 $37,973 $42,005
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