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Win $2,040,000 in the state lottery. The $2,040,000 prize will be paid in equal installments of $170,000 over 12 years. The payments will be made on December 31 of each year, beginning on December 31, 2012. If the current interest rate is 8%, determine the present value of your winnings.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956147

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