How much is the sweepstakes payout actually worth


Suppose you win the Publishers Clearinghouse $10 million sweepstakes. The money is paid in equal annual end-of-year installments of $333,333.33 over 30 years. If the appropriate discount rate is 5%, how much is the sweepstakes payout actually worth today? Please, use the TVM keys on TI BAII Plus.

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Financial Management: How much is the sweepstakes payout actually worth
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