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Alfred Banda, a legal practitioner, has just won lottery amounting to ZMW2,000,000. There has been an agreement between the Lottery Company and Alfred regarding the
- Alfred Banda, a legal practitioner, has just won lottery amounting to ZMW2,000,000. There has been an agreement between the Lottery Company and Alfred regarding the way payments will be made. The two parties have agreed to an equal annual installments of ZMW500,000. The lottery is not paying him immediately. The first payment will be made at the end of the sixth year. Assume that the opportunity cost of capital is 15%.
Find the future value of the payment.
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Gapenskis Understanding Healthcare Financial Management
Authors: George H. Pink, Paula H. Song
8th Edition
1640551093, 978-1640551091
