Question
Pat wins the local lottery and is to receive $45,000 a year on the first day of each of the next 10 years. Assuming a
Pat wins the local lottery and is to receive $45,000 a year on the first day of each of the next 10 years. Assuming a discount rate of 6%, what is the present value of John's lottery prize?
| Using the information from above, what is the present value of the lottery winnings if the payments are to be received on the | |||||
| last day of each year? | |||||
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The Millionaire Next Door The Surprising Secrets Of Americas Wealthy
Authors: Thomas J. Stanley, William D. Danko
1st Edition
1589795474, 978-1589795471
