a. On the day the $5 million PCH Lotto Sweepstakes Grand Prize was won, what was its

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a. On the day the $5 million PCH Lotto Sweepstakes Grand Prize was won, what was its economic value? Use 7% compounded annually for the discount rate.
b. How much does the final payment of $4,025,000 contribute to that economic value?
Assume that all payments are made at the end of each year.
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