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# Prizes are often not "worth" as much as claimed. Place a value on a prize of $5,000,000 which is to be received in equal payments over 20 years, with...

Prizes are often not "worth" as much as claimed. Place a value on a prize of $5,000,000 which is to be received in equal payments over 20 years, with the first payment beginning today. Assume an interest rate of 7% over the 20 years