A State Lottery Commission Pays the Winner of the "Million

question 135

Short Answer

A state lottery commission pays the winner of the "Million Dollar" lottery 30 annual installments of $30,000 each. If the prevailing interest rate is 5% /year compounded continuously, find the present value of the winning ticket. Round your answer to the nearest dollar.
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$__________

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Definitions:

Narcissists

Individuals who have an excessive interest in or admiration of themselves, often prioritizing their own needs over others'.

Admired

Regarded with respect or warm approval.

Relationship Partners

Individuals involved in a romantic or significant relationship with each other.

Narcissists

Individuals with an excessive interest in or admiration of themselves, often displaying a lack of empathy for others.