You have just won a lottery you will receive 800000 total


You have just won a lottery. You will receive $800,000 total, to be divided into 10 equal payments of $80,000 each, with the first payment to be received today.

Compute the value of the prize today, at an interest rate of 6.3%, compounded annually.

 

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Finance Basics: You have just won a lottery you will receive 800000 total
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