What is the amount of money that must be set aside to pay

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Reference no: EM131621072

For a certain multi-state lottery the prize was $18,000,000 that was paid out over 30 years with each year payments of $600,000.00 paid at the end of each year. If money is worth 7.6%, compounded annual, what is the amount of money that must be set aside to pay for this prize?

The present value is $ (Round to 2 decimal places.)

Reference no: EM131621072

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