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What is the present value of her winnings

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Sally has just won the million-dollar Big Slam jackpot at a gambling casino. The casino will pay her $50,000 per year at the end of each of the next 20 years as the payoff. If Sally can earn a 10% rate of return on invested money, what is the present value of her winnings? If the first payment was made today and the remaining 19 payments occurred at the beginning of each of the next 19 year, what is the present value of her winnings?

Reference no: EM13506511

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