Question
A $3.6 million state lottery pays $15,000 at the beginning of each month for 20 years. How much money must the state actually have in
A $3.6 million state lottery pays $15,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 6.7%, compounded monthly?
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Public Finance
Authors: Richard W. Tresch
4th Edition
0128228644, 978-0128228647
