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In: Statistics and Probability

Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume...

Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates.

Jackpot amount interest rate equal annual payments present value in dollars
$16,000,000 8% 20 $
$16,000,000 13% 20 $
$16,000,000 8% 25 $
$16,000,000 13% 25 $

(round to nearest dollar amount)

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orchestra answered 2 years ago
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