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10 Milli won a prize in the lottery. She will receive $2,000 a year for 15 years. What is the prize worth today if the

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10 Milli won a prize in the lottery. She will receive $2,000 a year for 15 years. What is the prize worth today if the interest rate 4%? Calculate this value two different ways: Fill in the data table: r 4% N 15 CF 2000 a. Use the Excel PV function to calculate the present value: b. Use formulas to find these values: |CF/r 50000 1+r 104.00% (1+r)^N 1.8009435 1/(1+r)^N 0.5552645 Use these values and the annuity formula to calculate the present value of the annuity here

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