Present Value of an Annuity On January 1 you win $1,360,000 in the state lottery. The $1,360,000 prize will be paid in equal installments of $170,000 over 8 years. The payments will be made on December 31 of each year, beginning on December 31. If the current interest rate is determine the present value of your winnings. Use the present value tables in Exhibit Round to the nearest whole dollar Present Value of Ordinary Annuity of $1 per Period Periods 4.ON 4.5% SN 55% 696 6.5% 79 1 2 3 4 5 0.96154 1.88609 2.77509 3.62990 4.45182 0.95694 1.87267 2.74896 3.58753 4.38998 0.95238 1.85941 2.72325 3.54595 4.32948 0.94787 1.84632 2.69793 3.50515 4.27028 0.94340 1.83339 2.67301 346511 4.21236 0.93897 1.82063 2.64848 3.42580 4.15568 0.93458 1.80802 2.62432 3.38721 410020 67aso 5.24214 6.00205 6.73274 743533 8.11090 5.15787 5.89270 6.59589 7.26879 7.91272 5.07569 578637 6.46321 7.10782 7.72173 499553 5.68297 6.33457 6.95220 7.53763 491732 5.58238 6.20979 6.80169 7.36009 4.84101 5.48452 6.08875 6.65610 7.18883 476654 5.38929 5.97130 6.51523 7.02358 10 11 12 13 14 15 8.76048 9.38507 9.98565 1056312 11.11839 8.52892 9.11858 9.68285 10.22283 10.73955 B.30641 8.86325 9.39357 9.89864 10.37966 8.09254 8.61852 9.11708 9.58965 10.03758 7.88687 8.38384 8.85268 929498 971225 7.68904 8.15873 8.59974 9.01384 9.40267 7.49867 7.94269 8.35765 8.74547 9.10791 16 17 18 19 20 11.65230 12.16567 1265930 13.13394 13.59033 11.23402 11.70719 12.15999 12.59329 13.00794 10.83777 1127407 11.68959 12.08532 12.46221 10.46216 10.85461 11.24607 1160765 11 95038 10.10590 10.47726 10.82760 11.15812 1146992 9.76776 10.11058 10.43247 10.73471 31.01851 9.44665 8.76322 10.05909 10:33560 1059401 21 22 23 24 25 14.02916 1445112 14.85684 15.24696 15.62208 13.40472 13.78442 14.14777 14.49548 14.82821 1282115 13.16300 13.48857 13.79864 14.09394 12.27524 12.58317 12.87504 13.15170 13.41393 11.76408 12.04158 12.30338 12.55036 12.78336 11.28498 11.53520 11.77014 11.99074 12.19780 10.83553 11.06124 11.27219 11.46933 11.65358 26 27 28 29 15.98277 16.32959 16.66306 1698371 1729203 15.14661 15.45130 15.74287 16.02189 1628889 1437519 14,64303 14.89813 15.14107 15.37245 1366250 1389810 14.12142 1433310 1453375 13.00317 13.21053 13.40616 13.59072 13.76483 12.39237 12.57500 12.7460 12.90749 13.05868 11.82878 11.98671 12.13711 12.27767 1240904 31 32 33 1758849 17.87355 1614765 1841120 13.66661 16.54439 16.76889 1702286 1724676 17.45101 15.59281 15.80268 16.00255 16.19290 1637419 1472393 14 90420 15.07507 1523703 15.39055 13.92909 14.08404 14 23023 1414 1449825 1320063 1133093 13.45909 13.57661 1253181 12.6-4656 125379 12:55401 12.94767 35 40 19.79277 18.40158 17.15909 1604612 15.04630 1414553 1303171 45 20.72004 19.15635 17.77407 1654773 IS ASSEN 144023 Present Value of Ordinary Annuity of $1 per Period Periods 99 10% 11% 129 13% 14% 1 2 3 4 0.92593 1.78326 2.57710 3.31213 3.99271 0.91743 1.75911 2.53129 3.23972 3.88965 0.90909 1.73554 248685 3.16987 3.79079 0.90090 1.71252 244371 3.10245 3.69590 0.89286 1.69005 240183 3.03735 3.60478 2.88496 1.66810 2.36115 2.97447 351723 0.87719 1.64666 232163 2.91371 3A3308 5 33054 7 8 9 10 4.62288 5.20637 5.74664 6.24689 6.71008 4.48592 5.03295 5.53482 5.99525 641766 4.35526 4.86842 5.33493 5.75902 6.14457 4.71220 5.14612 5.53705 5.88923 4.11141 456376 4.96764 5.32825 5.65022 3.99755 4.42261 4.79677 5.13166 5.42624 3.88867 4.28830 4.63886 4.94637 5.21612 11 12 13 14 15 7.13896 7.53608 7-90378 8.22424 8.55948 6.80519 7.16073 7.48690 7.78615 8.06069 649506 6.81369 7.10336 7.36669 7.60608 6.20652 6.49236 6.74987 6.96187 7.19087 5.93770 6.19437 642355 6.62817 6.81086 5.68694 5.91765 612181 6.30249 6.46238 5A5273 5.66029 5.84236 6.00207 6.14217 16 17 18 19 20 8.85137 9.12164 9.37189 9.60360 9.81815 8.31256 8.54363 8.75563 8.95011 9.12855 7.82371 8.02155 8.20141 8.36492 8.51356 737916 7.54879 7.70162 783929 796333 6.97399 7.11963 7.24967 736578 7.46944 6.60388 6.72909 6.83991 6.93797 7.02475 6.26506 637286 6.46742 655037 6,62313 21 22 23 24 25 10.01680 10.20074 10.37106 10.52876 10.67478 9.29224 9.44243 9.58021 9.70661 9.82258 8.64869 8.77154 8.88322 8.98474 9.07704 B07507 8.17574 8.26643 8.34814 8.42174 7.56200 7.64465 7.71843 778432 7.64314 7.10155 7.16951 722966 7.28288 7:32998 668696 6.74294 6.79206 6.83514 6.87293 26 27 28 29 10.80998 10.93516 11.05108 11.15541 1125778 9.92897 10:02658 10.11613 10.19628 10.27365 9.16095 9.23722 9.30657 9.36961 9.42691 848806 8.54780 8,60162 865011 8.69379 7.89566 7.944255 7.93442 B02181 8.05518 7.37167 7.40856 744120 7A7009 749565 6.9060B 693515 696066 6.98304 700266 30 31 7.01988 7.0349 1134980 11.43500 11.51389 11.58693 11.65457 10.34200 10.40624 10.46444 1051784 10.56682 9.47901 9.5263 9:5694 960857 9.64416 8.73315 8.7660 880054 B2932 885524 8.08499 8.11159 3.13535 B.15656 217550 7.51820 7.53830 755602 7.57170 7.58557 7.05985 7,07005 35 11.92461 40 10.75736 9.77905 95105 2410 7.63438 7. 10504 12.10840 266066 9.00791 7.12.22 45 10.38120 9.86281 B.23252
