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Suppose you win the Publishers Clearinghouse $15 million sweepstakes. The money is paid in equal annual installments of $600,000 over 25 years. Assume the appropriate
Suppose you win the Publishers Clearinghouse $15 million sweepstakes. The money is paid in equal annual installments of $600,000 over 25 years. Assume the appropriate discount rate is 6%, how much is the sweepstakes actually worth today?
A. | 4.67m | |
B. | 5.67m | |
C. | 6.67m | |
D. | 7.67m | |
E. | 8.67m |
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