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Hi, please only answer if you can do all parts. Thank you! You have just received notification that you have won the $4 million first
Hi, please only answer if you can do all parts. Thank you!
You have just received notification that you have won the $4 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 74 years from now. What is the present value of your windfall if the appropriate discount rate is 7 percent? Multiple Choice $27,306.16 $24,629.08 $82,835.26 $26,770.74 $26,235.33 Your coin collection contains 511945 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when jou retire in 2039, assuming they appreciate at an annual rate of 11 percent? Multiple Choice $882,376.20 $900,952.54 $74,711.80 $947,393.40 $928,817.06 In 1904, the first Putting Green Championship was held. The winner's prize money was $100. In 2016, the winner's check was $1,168,000. (Do not round intermediate calculations.) a. What was the percentage increase per year in the winner's check over this period? b. If the winner's prize increases at the same rate, what will it be in 2049
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