If the first payment is made immediately what is this grand
A lottery claims its grand prize is $10 million, payable over 20 years at $500,000 per year. If the first payment is made immediately, what is this grand prize really worth? Use a discount rate of 6%.
Now Priced at $10 (50% Discount)
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a lottery claims its grand prize is 10 million payable over 20 years at 500000 per year if the first payment is made
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