Question
Steve won the lottery and will receive 13 annual payments of $5000. The interest rate is 5% per year and assume the first payment is
Steve won the lottery and will receive 13 annual payments of $5000. The interest rate is 5% per year and assume the first payment is received 3 years from today. Find the present value of his winnings.
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
7th Edition
0538877766, 9780538877763
