40. Annuity Value. The $40 million lottery payment that you just won actually pays $2 million per...
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40. Annuity Value. The $40 million lottery payment that you just won actually pays $2 million per year for 20 years. If the discount rate is 8% and the first payment comes in I year, what is the present value of the winnings? What if the first payment comes immediately? (LO3)
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780073382302
6th Edition
Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus
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