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

On January 1, you win $5,500,000 in the state lottery. The $5,500,000 prize will be paid in equal installments of $550,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31 of this year. If the current interest rate is 6%, determine the present value of your winnings. Use the present value tables in Exhibit 7. Round to the nearest whole dollar.
fill in the blank 1 of 1$Exhibit 7 Present Value of an Annuity of $1 at Compound Interest
On January 1, you win $5,500,000 in the state lottery. The

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