6.21 and 61

Problem 6.21 Carol Jenkins, a lottery winner, will receive the following payments over the next seven years. If she can invest her cash flows in a fund that will earn 11.2 percent annually, what is the present value of her winnings? (Round answer to 2 decimal places, e.g. 15.25.) 2 3 4 5 7 Year $387,000 334,000 $285,000 $298,000 $339,000 $380,000 $565,000 value of investment g Present value of investment