Multiple Choice
John Jones won a lottery that will pay him $3,000,000 after twenty years. Assuming an appropriate interest rate is 5% compounded annually, what is the present value of this amount?
A) $3,000,000.
B) $7,959,900.
C) $37,386,630.
D) $1,130,670.
Correct Answer:
Verified
Correct Answer:
Verified
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