Question
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume...
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates.
Jackpot Amount Interest Rate (%) Equal Annual Payments
| 13,000,000 | 8 | 20 |
| 13,000,000 | 15 | 20 |
| 13,000,000 | 8 | 25 |
| 13,000,000 | 15 | 25 |
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