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Susan Wilson, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay
Susan Wilson, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay her a lump sum today for the rights to those future cash flows. If she can invest her cash flows in a fund that will earn 10.70 percent annually, how much should Susan require the investor to pay for the cash flows? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.) Present value of investment
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