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October 25, 2014

Homework Help: math

Posted by janet on Sunday, May 1, 2011 at 4:31pm.

Suppose a state lottery prize of $2 million is to be paid in 20 payments of $100,000 each at the end of each of the next 20 years. If money is worth 9%, compounded annually, what is the present value of the prize?

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