Mini$-$Exercise $6-8($Static$)$ Present value calculations Appendix LO $6-10$

Congratulations! You have just won $$2$ billion in the largest Powerball jackpot payoff ever! You will receive payments of $$100,000,000$

per year for the next $20$ years. Use Table $6-5.$

Note: Use appropriate factor from the table provided.

Required:

Calculate the present value of your lottery winnings, assuming an interest rate of $4\%.$

Note: Round your answer to the nearest whole dollar.