What is the value of the prize today

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Reference no: EM131561051

A lottery winner wins the One Million Dollar Prize. After winning, she finds out that the payments arc actually made annually over the next 15 years in installments of $ 50.000 each for each of the first 10 years, and $ 100,000 each for each of the next 5 years. What is the value of the prize today, if ROI is 9%?

Reference no: EM131561051

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