Question
Congratulations! You just won the Pennsylvania Lotto Wild Ca$h Multiplier their newest scratch-off game. The prize consists of 21 annual payments of $19,500 each. If
Congratulations! You just won the Pennsylvania Lotto Wild Ca$h Multiplier their newest scratch-off game. The prize consists of 21 annual payments of $19,500 each. If the interest rate is 4.8 percent, what is the present value of the Wild Ca$h Multiplier prize if you receive the first annual payment in exactly 4 years?
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
