Intro

It is the end of $2024.$ You $($foolishly$)$ played the lottery and won the following cash

flows, to be paid at the end of each year:

The appropriate interest rate is $7\%.$

Part $1$

What is the sum of present values?

Part $2$

Now assume that the interest rate is $5\%.$ What is the present value of all cash

flows?

Part $3$

Now assume that the interest rate is $11\%.$ What is the present value of all cash

flows?