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Problem:

You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 70 years from now.

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Question1: What is the present value of your windfall if the appropriate discount rate is 8 percent? Show all work.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146389

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