Question
Joan Lucky won the $62 million lottery. She is to receive $2.8 million a year for the next 20 years plus an additional lump-sum payment
Joan Lucky won the $62 million lottery. She is to receive $2.8 million a year for the next 20 years plus an additional lump-sum payment of $6.0 million after 20 years. The discount rate is 14 percent. What is the current value of her winnings?
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British And German Banking Strategies
Authors: S. Janssen
1st Edition
0230220487, 9780230220485
