Question
If you won the powerball lottery right now, you could get $157.1 million today or $8.2 million every year for the next 30 years. Assume
If you won the powerball lottery right now, you could get $157.1 million today or $8.2 million every year for the next 30 years. Assume the interest rate is 3%. Use the formulas from the reading by Klein and Bauman to answer the following:
a) What is the present discounted value of the annuity ($8.2 million for 30 years)? b) Should you take the annuity or the cash today?
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The Complete Guide To Operational Auditing 1995 Supplement
Authors: Harry R. Reider
1st Edition
0471102547, 978-0471102540
