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

Question

1 Approved Answer

George Jetson has just won the state lottery, paying $250,000 a year for the next 30 years. George will receive his first payment today.If the

George Jetson has just won the state lottery, paying $250,000 a year for the next 30 years. George will receive his first payment today.If the interest rate is 3%, what is the present value of his lottery winnings? (Enter a positive value and round to 2 decimals)

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

Finance for Executives Managing for Value Creation

Finance for Executives Managing for Value Creation

Authors: Gabriel Hawawini, Claude Viallet

4th edition

9781133169949, 538751347, 978-0538751346

More Books

Students also viewed these Finance questions

Question

Use the data given below (sales and geographical region) to answer the following question. Region iPad iPhone East 11,107 11,933 North 10,151 13,768 South 11,895 12,550 West 11,284 13,813 What is the...

Answered: 1 week ago

Question

A mummified cat is found to have 70.123% of the atmospheric level carbon-14. Ro. Given that the half-life of Carbon-14 is 5730 years, estimate how many years ago the cat was mummified. answer correct...

Answered: 1 week ago

Question

______ 1. One of the best ways to reduce agency conflict is by a. instituting severe penalties for bad decisions. b. hiring outside monitors to keep track of the manager?s decisions. c. designing an...

Answered: 1 week ago

Question

Sunita inherits $45,000 from a distant relative. She decides to invest her inheritance in a diversified, dividend-paying mutual fund. At the time of her initial investment, she purchases 1,500 shares...

Answered: 1 week ago

Question

★★★★★
Design a variant of the hybrid mergejoin algorithm for the case where both relations are not physically sorted, but both have a sorted secondary index on the join attributes.

Answered: 1 week ago

Question

★★★★★
U.P.I. Industries Ltd., a Canadian corporation, has recently been designated a public corporation. Its shares are traded on the Winnipeg Stock Exchange. Over the past year, the company has pursued an...

Answered: 1 week ago

Question

★★★★★
=+7 Is the average value for Q4 higher or lower than the other three quarters? Why?

Answered: 1 week ago

Question

★★★★★
Alder Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are planned for the next year. Two units of raw material are required to produce each unit of...

Answered: 1 week ago

Question

★★★★★
just the answer please Questions 9-10 (of 10) The following information applies to the questions displayed below The following calendar year-end information is taken from the December 31, 2015,...

Answered: 1 week ago

Question

★★★★★
Howard has an ROI of 18% based on revenues of $412,000. The Investment turnover is 2. What is the residual income if the cost of capital is 9%? Multiple Choice $18,540 $74 160 O ($8,540)

Answered: 1 week ago

Question

★★★★★
An athlete runs a marathon, after which his muscles feel fatigued and unable to contract. The athlete asks the nurse why this happened. The nurse's response is based on the knowledge that the problem...

Answered: 1 week ago

Question

★★★★★
The Self - Appraisal Problem Leroy Washington, human resource director at Engel Products was faced with a problem that he had not experienced before and was uncertain how to proceed. The problem was...

Answered: 1 week ago

Question

★★★★★
3 7. JL. Industries Corp. is experiencing rapid growth. Dividends are expected to grow at 30 percent per year during the next three years, 18 percent over the following year, and then 8 percent per...

Answered: 1 week ago

Question

★★★★★
YOUR GM HAS CALLED YOU INTO THE OFFICE AND SHARED WITH YOU THAT YOUR HOUSEKEEPING AAA INSPECTION SCORE HAS FALLEN 5 POINTS BECAUSE OF CONSISTENCY ISSUES IN SERVICE AND THE HOTEL IS IN JEOPARDY OF...

Answered: 1 week ago

Question

★★★★★
Follow these steps for this discussion board: 1-Find an example of a business committing a tort (news article, law website, etc.). This could be from a court case or it may have been handled...

Answered: 1 week ago

Question

★★★★★
There are four main methods for documenting specific business processes, systems, and so on. If your company asked you to document the workflow in your department, where would you start and why? How...

Answered: 1 week ago

Question

★★★★★
Explain why each of the following is either a private good or a public good: traffic lights, in line skates, a city park, a chicken salad sandwich, a tennis racket, national defense, a coastal...

Answered: 1 week ago

Question

★★★★★
A large manufacturing company replaces its production machine every five years. The manufacturing company claims that their new production machine will increase their productions. To justify this,...

Answered: 1 week ago

Question

★★★★★
A new law was implemented in India to curb traffic violations by its citizens. A local police department wants to know if the law has been effective in decreasing the number of automobile accidents....

Answered: 1 week ago

Question

★★★★★
A unit of insulin can drop blood glucose level by 50 mg/dl and is used in correcting high blood sugar. The drop of blood sugar level is dependent on an individuals insulin sensitivities and other...

Answered: 1 week ago

Previous Question Next Question