A major lottery advertises that it pays the winner $10 million. However, this prize money...
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Finance
A major lottery advertises that it pays the winner $10 million. However, this prize money is paid at the rate of $250,000 each year (with the first payment being immediate) for a total of 40 payments. What is the present value of this prize at 5% interest? Please round your answer to the nearest integer dollar
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