Question
Assume you win this prize, you expect to live for 50 more years and you choose your niece who is 6 years old as the
Assume you win this prize, you expect to live for 50 more years and you choose your niece who is 6 years old as the person to receive the prize after your life.You expect your niece to live to 80 years old.If 5% is the appropriate interest rate, what is the present value of the prize? (Show your answer as a positive dollar value with 2 decimal places, without a $. For example, 527.27.)
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Get StartedRecommended Textbook for
Principles of managerial finance
Authors: Lawrence J Gitman, Chad J Zutter
12th edition
9780321524133, 132479540, 321524136, 978-0132479547
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