The payments are received at the end of the year and the
A lottery pays the winner $1 million, in 20 equal payments of $50,000. The payments are received at the end of the year, and the winner's interest rate is 12%. What is the present worth of the winnings?
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a lottery pays the winner 1 million in 20 equal payments of 50000 the payments are received at the end of the year and
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