(Answered) 1 sally has just won the million-dollar big slam jackpot at

Accounting

1. Sally has just won the million-dollar Big Slam jackpot at a gambling casino. The casino will pay her $50,000 per year for 20 years as the payoff.

Required:

If Sally can invest money at a 10% rate of return, what is the present value of her winnings? Did she really win a million dollars? Explain.

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