On January 1, you win $51,750,000 in the state lottery. The $51,750,000 prize will be paid in equal installments of $5,750,000 over nine years. The payments will be made on December 31 of each year, beginning on December 31 of this year. The current interest rate is 5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.Open spreadsheetDetermine the present value of your winnings. Round your answer to the nearest dollar.$ fill in the blank 2

On January 1, you win $51,750,000 in the state lottery. The $51,750,000 prize will be paid in equal installments of $5,750,000 over nine years. The payments will be made on December 31 of each year, beginning on December 31 of this year. The current interest rate is 5%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.Open spreadsheetDetermine the present value of your winnings. Round your answer to the nearest dollar.$ fill in the blank 2

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 7E

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