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Georgia Has Just Won the State Lottery

Question 34

Multiple Choice

Georgia has just won the state lottery.She will receive six equal annual amounts of $12, 000, beginning one year from today.Assuming an 8% interest rate compounded annually, the present value of those receipts today is


A) $35, 913
B) $55, 475
C) $59, 913
D) $72, 000

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