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Check my work 10 The $41 million lottery prize that you have just won actually pays out $2.5 million a year for 20 years. The
Check my work 10 The $41 million lottery prize that you have just won actually pays out $2.5 million a year for 20 years. The interest rate is 10.0%. a. If the first payment comes after 1 year, what is the present value of your winnings? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) 5 points Present value million eBook Print References b. What is the present value if the first payment comes immediately? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Present value million
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