Question: How to solve You have just won a $ 1 million lottery. This new lottery, however, will pay out the award 3 0 years from

How to solve
You have just won a $1 million lottery. This new lottery, however, will pay
out the award 30 years from today. What is the present value of your
award based on a 8% p.a. interest rate? Use the formula to compute for
the answer. Round off answers to the nearest hundredths (2 decimal
places to the right)

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