Question
Rita Gonzales won the $65 million lottery. She is to receive $3 million a year for the next 20 years plus an additional lump sum
Rita Gonzales won the $65 million lottery. She is to receive $3 million a year for the next 20 years plus an additional lump sum payment of $5 million after 20 years. The discount rate is 6 percent.
What is the current value of her winnings?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
7th Edition
0072866578, 9780072866575
