Solved: If the prevailing interest rate is 6year compounded, Mathematics

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If the prevailing interest rate is 6year compounded

Question: LOTTERY PAYMENTS A state lottery commission pays the winner of the "Million Dollar" lottery 20 annual installments of $50,000 each. If the prevailing interest rate is 6%/year compounded continuously, find the present value of the winning ticket.

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Mathematics: If the prevailing interest rate is 6year compounded

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