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on january 1, you win $50,000 in the state lottery. the $50,000 prize will be...

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Accounting

on january 1, you win $50,000 in the state lottery. the $50,000 prize will be paid in equal installments of $6,250,000 over 8 years. the payments will be made on december 31 of each year, beginning on decemeber 31 of this year. if the current interest rate is 5%, determine the present value of your winnings. round to the nearest whole dollar

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