Question
oan 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
oan 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 $9 million after 20 years. The discount rate is 12 percent.
What is the current value of her winnings?(Use a Financial calculator to arrive at the answer. Round the final answer to the nearest whole dollar.)
Current Value$
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Investments
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Stylianos Perrakis, Peter
8th Canadian Edition
007133887X, 978-0071338875
