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Problem 5-38 Annuity Due (L03) The $46.0 million lottery payment that you have just won actually pays $2.3 million per year f
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a. Present value = PMT*(1-(1/(1+r^n)))/ $22,581,739.04 2,300,000*(1-(1/(1.08420)))/0.08 b. Present value = PMT*(1-(1/(1+r^n))

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