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Sandra Robinson has won a state lottery and will receive a payment of $88,000 every year, starting today, for the next 20 yea
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Answer #1

The present value of the investment is calculated as follows:-

=PV(rate,nper,pmt,fv,0 or 1)

=PV(5.11%,20,88000,,1)

=1142039

1 is used when the annuity is at the beginning of the period.

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