Chapter 2 Assignment (i)\ Help\ 10 10 points\ 03:08:11\ eBook\ Print\ References\ The

$45

million lottery prize that you have just won actually pays out

$4.5

million a year for 20 years. The interest rate is

12.0%

.\ a. If the first payment comes after 1 year, what is the present value of your winnings?\ Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.\ b. What is the present value if the first payment comes immediately?\ Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.\ \\\\table[[a. Present value,,million],[b. Present value,,million]]\ Question 10 - Chapter 2 Assignment - Connect\ Mail - Geordy Gomez - Outlook\ M. Question 10 - Chapter 2 Assignment - Connect

The $45 million lottery prize that you have just won actually pays out $4.5 million a year for 20 years. The interest rate is 12.0%. a. If the first payment comes after 1 year, what is the present value of your winnings? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. b. What is the present value if the first payment comes immediately? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places