document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=854672>Question 854672</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose a state lottery prize of $2 million is to be paid in 20 payments of $100,000 each at the end of each of the next 20 years. If money is worth 11%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #514807 by </B><A HREF=/tutors/aboutme.mpl?userid=josmiceli><B>josmiceli(19441)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=josmiceli><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=josmiceli><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=514807\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+=+2%2A10%5E6+%2A%28+1+%2B+.11+%29%5E20+ ALIGN=MIDDLE  ALT=\"+A+=+2%2A10%5E6+%2A%28+1+%2B+.11+%29%5E20+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+=+2%2A10%5E6+%2A+1.11%5E20+ ALIGN=MIDDLE  ALT=\"+A+=+2%2A10%5E6+%2A+1.11%5E20+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+=+2%2A10%5E6+%2A+8.06231154+ ALIGN=MIDDLE  ALT=\"+A+=+2%2A10%5E6+%2A+8.06231154+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+=+16.12462307%2A10%5E6+ ALIGN=MIDDLE  ALT=\"+A+=+16.12462307%2A10%5E6+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+=+16124623.07+ ALIGN=MIDDLE  ALT=\"+A+=+16124623.07+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "After 20 years, the prize <BR>\n" );
document.write( "is worth $16,124,623.07<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );