Find the cash value of the lottery, Financial Management

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Find the cash value of the lottery

Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates. Jackpot Amount Interest Rate (%) Equal Annual Payments.

Amount Interest Equal Annual Payments Present Value in Dollars

3,000,000 5 20

3,000,000 11 20

3,000,000 5 25

3,000,000 11 25

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Financial Management: Find the cash value of the lottery

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