Question: Repeat Question 1 using 8% compounded annually as the discount rate. The changes from the previous answers indicate how sensitive the economic value calculations are

Repeat Question 1 using 8% compounded annually as the discount rate. The changes from the previous answers indicate how sensitive the economic value calculations are to the discount rate used.
Question 1
On the day a $1 million prize was won, what was its economic value under each of the payment schedules for Year 2000, 2004, and 2007?
Assume that all payments are made at the end of each year.

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