In May 1992, a 60 yr old nurse gambled $12 in a Reno casino and walked away with the biggest jackpot in history – $9.3 million. In reality, the jackpot wasn’t really worth $9.3 million. The sum was to be paid in 20 annual installments of $465,000 each. What is the present value of the jackpot?

In May 1992, a 60 yr old nurse gambled $12 in a Reno casino and walked away with the biggest jackpot in history – $9.3 million. In reality, the jackpot wasn’t really worth $9.3 million. The sum was to be paid in 20 annual installments of $465,000 each. What is the present value of the jackpot?

In May 1992, a 60 yr old nurse gambled $12 in a Reno casino and walked away with the biggest jackpot in history – $9.3 million. In reality, the jackpot wasn’t really worth $9.3 million. The sum was to be paid in 20 annual installments of $465,000 each. What is the present value of the jackpot?