Question: Until October 2002, the annuity due option for Powerball Jackpot winners was structured for 25 rather than 30 annual payments. What annual payment in a

Until October 2002, the annuity due option for Powerball Jackpot winners was structured for 25 rather than 30 annual payments. What annual payment in a 25-year annuity due would the October 19, 2005 Powerball cash prize ($227.8 million) purchase? (Use the rate of return you calculated in Question 2.)

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