What is the current value of her winnings

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Reference no: EM132041820

Rita Gonzales won the $66 million lottery. She is to receive $2.3 million a year for the next 25 years plus an additional lump sum payment of $8.5 million after 25 years. The discount rate is 11 percent. What is the current value of her winnings? Use Appendix B and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

Reference no: EM132041820

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