A lottery offers a $ 1 , 0 0 0 , 0 0 0 prize to be

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Question:

A lottery offers a $

1, 000, 000

prize to be paid in

20

equal installments of $

50, 000

at the end of each year. What is the future value of this annuity if the current annual rate is

4 % ? (

Round your answer to the nearest cent.

)

Posted Date: May 18, 2024 11:07 PM

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