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Find out the present value of your winnings

Problem:

You have just received notification that you have won the $1.4 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday, 78 years from now. The appropriate discount rate is 8 percent. What is the present value of your winnings?

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Finance Basics: Find out the present value of your winnings

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Finance Basics: Find out the present value of your winnings

Reference No:- TGS02069526

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