Question: Often lottery winnings are divided into equal payments given annually for 2025 years. So the present value of the winnings is worth less than the

Often lottery winnings are divided into equal payments given annually for 2025 years. So the present value of the winnings is worth less than the actual jackpot, depending on the rate at which money could be invested. Find the present value using the given conditions.

Jackpot amount Interest Rate Equal Annual Payments Present Value in dollars
8,000,000 5% 20 x
8,000,000 9% 20 x
8,000,000 5% 25 x
8,000,000 9% 25 x

Find the present value with the given conditions.

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