Question: On January 1 , you win $ 4 0 , 2 5 0 , 0 0 0 in the state lottery. The $ 4 0

On January

1,

you win $

40, 250, 000

in the state lottery. The $

40, 250, 000

prize will be paid in equal installments of $

5, 750, 000

over

7

years. The payments will be made on December

31

of each year, beginning on December

31

of this year. If the current interest rate is

5.5 % .

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.

Open spreadsheet

Determine the present value of your winnings. Round your answer to the nearest dollar.

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