Question
Lotta Dough just won the state lottery and has elected to receive $50,000 per year for 20 years in the form of an annuity due.
Lotta Dough just won the state lottery and has elected to receive $50,000 per year for 20 years in the form of an annuity due. What is the present value of this stream of payments if money can earn 10 percent annual interest?
| a | $864,642 |
| b | $500,000 |
| c | $468,246 |
| d | $246,468 |
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Principles Of Finance
Authors: Besley, Scott Besley, Eugene F Brigham, Brigham
4th Edition
0324655886, 9780324655889
