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  • Feb 10, 2008, 08:51 PM
    busstudent
    Simple Lottery
    The problem:

    You just won the lottery. The jackpot is 10 million, paid in 20 equal, annual payments starting today. In present-value terms, how much did you really win? Use an annual interest rate of 6.6%.

    Any clues?
  • Feb 10, 2008, 09:29 PM
    JBeaucaire
    I get about 4.3 million.

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