Question
A lottery offers you a choice of $1,000,000 per year for 20 years or a lump-sum payment. What lump-sum payment (rounded to the nearest dollar)
A lottery offers you a choice of $1,000,000 per year for 20 years or a lump-sum payment. What lump-sum payment (rounded to the nearest dollar) would equal the annual payments if the current interest rate is 1.2% compounded annually?
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Financial Analysis With Microsoft Excel 2016
Authors: Timothy R. Mayes, Todd M. Shank
8th Edition
1337298042, 9781337298049
