Question
You won the lottery, and they agree to give you $50,000 per year at the end of each year for the next 25 years, or
You won the lottery, and they agree to give you $50,000 per year at the end of each year for the next 25 years, or you can take a lump sum today. If the lottery uses a discount rate of 6%, what would be the lump sum that you could take today?
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Answer Present Value of lottery Annual Payme...
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Personal Finance An Integrated Planning Approach
Authors: Ralph R Frasca
8th edition
136063039, 978-0136063032
