A lottery offers a ($ 1,000,000) prize to be paid in 29 equal annual installments of ($

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A lottery offers a $\$ 1,000,000$ prize to be paid in 29 equal annual installments of $\$ 20,000$ with a 30th final payment of $\$ 420,000$. What is the total value of this annuity if the current annual rate is $2 \%$ ?

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Nature Of Mathematics

ISBN: 9781133947257

13th Edition

Authors: Karl J. Smith

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Question Posted: Jan 28, 2024 01:03 AM

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A lottery offers a ($ 1,000,000) prize to be paid in 29 equal annual installments of ($

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Nature Of Mathematics

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