Question: Please explain the steps You have just won a lottery prize of $2,000,000 collectable in 10 yearly installments of $200,000 starting today. Why is this

Please explain the steps You have just won a

Please explain the steps

You have just won a lottery prize of $2,000,000 collectable in 10 yearly installments of $200,000 starting today. Why is this prize not really $2,000,000? What is it really worth today if money can be invested at 11 percent annual interest, compounded monthly? Use a spreadsheet to construct a table showing the present worth of each installment and the total present worth of the prize. Determine the present worth of each installment and the total present worth of the prize. (Round to the nearest dollar as needed.) Installment Present Worth 1 2 3 4 5 6 AA AAAA AAAAA 7 8 9 10 Total

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