Winners of the georgia lotto drawing are given the choice, Financial Management

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Winners of the georgia lotto drawing are given the choice

Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 19 years or as a? lump-sum cash option amount. The cash option amount is determined by discounting the annual winning payment at 9?% over 19 years. This week the lottery is worth ?$3 million to a single winner. What would the cash option payout? be?

The cash option payout would be ?$ ? (Round to the nearest? cent).

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