Answered You can hire a professional tutor to get the answer.

# A major lottery advertises that it pays the winner $10 million. However this prize money is paid at the rate of $500,000 each year (with the first...

A major lottery advertises that it pays the winner $10 million. However this prize money is paid at the rate of $500,000 each year (with the first payment being immediate) for a total of 20 payments. What is the present value of this prize at 10% interest compounded annually?