Question
a. The $30.0 million lottery payment that you just won actually pays $2.0 million per year for 15 years. If the discount rate is 10.00%
a. The $30.0 million lottery payment that you just won actually pays $2.0 million per year for 15 years. If the discount rate is 10.00% and the first payment comes in 1 year. a. What is the present value of the winnings?
b. What is the present value of the winnings, if the first payment comes immediately?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
