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QUESTION
The Florida lottery agrees to pay the winner $290,000 at the end of each year for the next 20 years. What is the future value of this prize if each
The Florida lottery agrees to pay the winner $290,000 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 0.08?
I need help on how to solve this.
Thanks.
