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December 22, 2014

Homework Help: Business Finance

Posted by Lawrence on Sunday, November 8, 2009 at 11:31pm.

Rita won $60 million lottery. She is to receive $1 million a year for the next 50 years plus an additional lump sum of $10 million after the 50th year. The discount rate is 10%. What is the present value of her winnings?

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