A lottery claims its grand prize is 10 million payable over
A lottery claims its grand prize is $10 million, payable over 5 years at $2,000,000 per year. If the first payment is made immediately, what is this grand prize really worth? Use an interest rate of 6%. Need to show formulas in excel.
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a lottery claims its grand prize is 10 million payable over 5 years at 2000000 per year if the first payment is made
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