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the Florida lottery Agrees to pay the winner $283,000 at the end of the year for...

the Florida lottery Agrees to pay the winner $283,000 at the end of the year for the next 20 years. What is the future value of this prize if each payment is put in an account earning 0.09?

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Expert Solution

Caculations-

As no method was mentioned I have solved the problem using excel function.

Please upvote if the answer is helpful.In case of doubt,do comment.Thanks.

jeff jeffy answered 1 year ago
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