A lottery claims its grand prize is $5 million, payable over 5 years at $1,000,000 per year. If the first payment is mad

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answerhappygod
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A lottery claims its grand prize is $5 million, payable over 5 years at $1,000,000 per year. If the first payment is mad

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A lottery claims its grand prize is $5 million, payable over 5years at $1,000,000 per year. If the first payment is madeimmediately, what is this grand prize really worth? Use an interestrate of 2%.
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