A state lottery commission pays the winner of the "Million Dollar" lottery 20 annual installments of $30,000 each. If the prevailing interest rate is 8% /year compounded continuously, find the present value of the winning ticket. Round your answer to the nearest dollar.
?

A. $301,432
B. $294,968
C. $299,289
D. $300,523


Answer: C

Mathematics

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