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Business, 19.10.2021 14:00 ariyo0210

On 5 October, someone in California bought the winning ticket for Powerball, whose prize was described as $699.8 million. The lucky winner gets 30 annual payments, the first payment now and the last payment 29 years from now. The amount of the payments increases by 5% per year. Assume inflation is 0%. a) What is the nominal value of the first payment

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