Assume that you just won $35 million in the Florida lottery, and hence the state will pay you 20 annual payments of $1.75 million each beginning immediately. If the rate of return on securities of similar risk to the lottery earnings (e.g, the rate on 20 - year U.S Treasury bonds) is 6 percent, what is the present value of your winnings?

Answer rating: 100% (QA)

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