Jackie Chan has just won the state lottery, paying $50,000 a year for 20 years. He is

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Jackie Chan has just won the state lottery, paying $50,000 a year for 20 years. He is to receive his first payment a year from now. The state advertises this as the Million Dollar Lottery because $50,00020=$1,000,000. If the interest rate is 8 percent, what is the true value of the lottery?

Posted Date: May 18, 2024 07:08 PM

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Jackie Chan has just won the state lottery, paying $50,000 a year for 20 years. He is

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