The Florida lottery agrees to pay the winner $276,000 at the end of each year...
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Accounting
The Florida lottery agrees to pay the winner $276,000 at the end of each year for the next 20 years. What is the future value of this prize if each payment is put in an account earning 0.07?
What is the future value of $1,100, placed in a saving account for four years if the account pays 0.07, compounded quarterly?
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