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What is the present value of the jackpot

Question: In May 1992, a 60 yr old nurse gambled $12 in a Reno casino and walked away with the biggest jackpot in history - $9.3 million. In reality, the jackpot wasn't really worth $9.3 million. The sum was to be paid in 20 annual installments of $465,000 each. What is the present value of the jackpot?

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