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You just won the lottery! The Kentucky Lottery agrees to pay you $250,000 at the...

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Finance

You just won the lottery! The Kentucky Lottery agrees to pay you $250,000 at the end of each year for the next 20 years. Find the future value (rounded) of this lottery if you plan to put each payment in an account earning 7%.

$11.50 million

$10.25 million

$9.75 million

None of the above

Answer & Explanation Solved by verified expert
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