Question
a) Sharon Kabana won the state lottery and will receive a payment of $89,729.45 at the end of each year for the next 20 years.
a) Sharon Kabana won the state lottery and will receive a payment of $89,729.45 at the end of each year for the next 20 years. If the going rate of interest is 7.25 percent, what is the present value of her lottery winnings?
b) What is the present value of Sharon Kabana's lottery winnings (above) if the payments begin today instead of one year from today?
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Corporate Treasury And Cash Management
Authors: Robert Cooper
1st Edition
1349512699, 9781349512690
