Find the cash value of the lottery jackpots given below. Yearly jackpot payments
ID: 2886102 • Letter: F
Question
Find the cash value of the lottery jackpots given below. Yearly jackpot payments begin immediately. Assume the lottery can invest at the given interest rates. Start 5 By 4 Table 1st Row 1st Column Subscript Amount Superscript Jackpot 2nd Column Subscript Rate Superscript Interest 3rd Column Subscript Payments Superscript Equal Annual 4st Column Subscript left parenthesis in dollars right parenthesis Superscript Present Value 2nd Row 1st Column $ 17 comma 000 comma 000 2nd Column 8 % 3rd Column 20 4st Column $ nothing 3rd Row 1st Column $ 17 comma 000 comma 000 2nd Column 14 % 3rd Column 20 4st Column $ nothing 4st Row 1st Column $ 17 comma 000 comma 000 2nd Column 8 % 3rd Column 25 4st Column $ nothing 5st Row 1st Column $ 17 comma 000 comma 000 2nd Column 14 % 3rd Column 25 4st Column $ nothing EndTable (Round to the nearest dollar as needed.)
Explanation / Answer
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