Brett has just won the lottery and has been promised an annual payment of $20,000 every year
Fantastic news! We've Found the answer you've been seeking!
Question:
Brett has just won the lottery and has been promised an annual payment of $20,000 every year forever starting one ear from today. If the annual interest rate is 12%, what is the present value of the winnings?
a) $22,400
b) $148,809
c) $166,667
d) $17,857
Expert Answer:
Posted Date:
