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

On January 1, you win $4,200,000 in the state lottery. The $4,200,000 prize will be paid in equal installments of $420,000 over 10 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 6%, determine the present value of your winnings. Value for 6% is 0.55839 and 7.36009

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