Joan Lucky won the $53,000,000 lottery. She is to receive $2.2 million a year for the next 20 years plus an additional lump-sum payment of
Joan Lucky won the $53,000,000 lottery. She is to receive $2.2 million a year for the next 20 years plus an additional lump-sum payment of $9 million after 20 years. The discount rate is 12 percent.
What is the current value of her winnings? (Use a Financial calculator to arrive at the answer. Round the final answer to the nearest whole dollar.)
Current Value $
Please show your step on financial calculator.
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Authors: Paula H. Song, Kristin L. Reiter
3rd Edition
1567939759, 978-1567939750
