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PLEASE HELP! You just won a contest. The prize is a lump sum payment of $80,913, however, you will not receive this payment for 16
PLEASE HELP!
You just won a contest. The prize is a lump sum payment of $80,913, however, you will not receive this payment for 16 years. Compute the present value of your prize assuming a discount rate of 11 percent per annum. Round your answer to 2 decimal places; record your answer without commas and without a dollar sign. Your Answer: Answer Question 9 (6.66 points) Compute the present value of an annuity of $655 per year for 16 years, given a discount rate of 10 percent per annum. Assume that the first cash flow will occur one year from today (that is, at t=1 ). Round your answer to 2 decimal places; record your answer without commas and without a dollar sign. Your Step by Step Solution
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