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please show step by step(no excel) thank you! Keenan has won the lottery for $20 million. He is offered a cash payment nqw of $15
please show step by step(no excel)
Keenan has won the lottery for $20 million. He is offered a cash payment nqw of $15 million, or 10 annual payments of $2 million. a. What is the interest rate that makes these two amounts equal? - PV=15m - FV= o N= - Pmt= - ANSWER: b. If you can invest at 8% how much would you have after 20 years if you invested the $1,000,000 thank you!
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