Congratulations, you just won a "million dollar" jackpot! With the first payment to be received immediately, you will receive $100,000 each year for the next nine years. What is the present value of your jackpot if you assume an interest rate of 4%? What if you assume an interest rate of 6%? Did you actually win one million dollars? Explain.
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Home » Business » Congratulations, you just won a "million dollar" jackpot! With the first payment to be received immediately, you will receive $100,000 each year for the next nine years.