Question: 2. [0/5 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.4.005. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose a state lottery prize of $7 million is to

2. [0/5 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.4.005. MY NOTES ASK

2. [0/5 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.4.005. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose a state lottery prize of $7 million is to be paid in 25 payments of $280,000 each at the end of each of the next 25 years. If money is worth 12%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) $ 54,901,973.78 x Need Help? Read It Watch It Talk to a Tutor 3. [0/5 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.4.007. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER With a present value of $120,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years if money is worth 6.8%, compounded quarterly? (Round your answer to the nearest cent.) $ 86555.16 x Need Help? Read It Watch It Talk to a Tutor

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