Business, 24.04.2020 15:19 chiffrardemsley

Lottery claims that its prize is $3 million. The first $1 million is paid immediately, and the second $1 million payment will be made in 1 year, and the third $1 million payment will be made in 2 years. Interest rate stays at 5% throughout the whole process. What is the present value of this prize? Round your results to TWO decimal places.

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Lottery claims that its prize is $3 million. The first $1 million is paid immediately, and the secon...