FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume you won 8 million dollars in lottery. You could take your winning in installments of 2 million dollars a year forv4 years or a

Assume you won 8 million dollars in lottery. You could take your winning in installments of 2 million dollars a year forv4 years or a lump some of fewer than 8 million dollars. Assume that the internet rate is 7% per year and that there are no taxes on the winnings. Calculat what the lump sum should be

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Microeconomics

Authors: Paul Krugman, Robin Wells

3rd edition

978-1429283427, 1429283424, 978-1464104213, 1464104212, 978-1429283434

More Books

Students also viewed these Economics questions

Question

★★★★★
List and explain ten benefits of regular physical activity.

Answered: 1 week ago

Question

★★★★★
A cryogenic fluid is stored in a 0.3 m diameter spherical container in still air. If the convective heat transfer coefficient between the outer surface of the container and the air is 6.8 W/(m2 K),...

Answered: 1 week ago

Question

★★★★★
22. Suppose that independent trials, each of which is equally likely to have any of m possible outcomes, are performed until the same outcome occurs k consecutive times. If N denotes the number of...

Answered: 1 week ago

Question

★★★★★
Rhodes parked his car in the self-service park-and-lock lot of Pioneer Parking Lot, Inc. The ticket that he received fromthe ticketmeter stated the following: NOTICE. THIS CONTRACT LIMITS OUR...

Answered: 1 week ago

Question

★★★★★
Question 3 Data Structure Given, the following data items from small.TopRealestate.csv file and the key is stock symbol. In this example we are searching for symbol DHC in the customDictionary. If...

Answered: 1 week ago

Question

★★★★★
The CIS Department at Tiny College maintains the Free Access to Current Technology (FACT) library of e-books. FACT is a collection of current technology e-books for use by faculty and students....

Answered: 1 week ago

Question

★★★★★
To complete this discussion board, read the prompt below and when ready to answer/post, click on create a thread, type/paste your answer in the textbox, and click on submit In this discussion board,...

Answered: 1 week ago

Question

★★★★★
Explain the principles of delegation

Answered: 1 week ago

Question

★★★★★
State the importance of motivation

Answered: 1 week ago

Question

★★★★★
Discuss the various steps involved in the process of planning

Answered: 1 week ago

Question

★★★★★
What are the challenges associated with tunneling in urban areas?

Answered: 1 week ago

Question

★★★★★
What are the main differences between rigid and flexible pavements?

Answered: 1 week ago

Question

★★★★★
Identify a quality initiative in case management and what are some barriers to implementation? Please include reference within 5 years.

Answered: 1 week ago

Question

★★★★★
1. To understand how to set goals in a communication process

Answered: 1 week ago

Question

★★★★★
11. How often have you passed on to others this type of information, which you have filled in yourself? Never, then you should think again.

Answered: 1 week ago

Question

★★★★★
9. Think of any experience that has made a very strong impression on you, and where it did not go the way you thought it would. Imagine this experience as a movie in your inner theatre. Run this...

Answered: 1 week ago

Previous Question Next Question