Winning tickets in power ball lottery

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Suppose you had one of the three winning tickets in last week’s Powerball Lottery; your prize would have been $188 million if you took your winnings in the form of an annuity. If the annuity were paid in 20 annual instalments using an interest rate of 4%, how much would you receive each year? Round your answer to the nearer thousand dollars (i.e. millions rounded to three decimal places

Reference no: EM13736988

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