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The prize will be awarded on your 80thnbspbirthday 60 years

You have received notification that you have won the $1,000,000 first prize in the state lottery. The prize will be awarded on your 80^th birthday, 60 years from now. What is the present value of your winning amount if the appropriate discount rate is 7 percent?

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Finance Basics: The prize will be awarded on your 80thnbspbirthday 60 years

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