FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Swifty Lou has just won the lottery and will receive an annual payment of $120,000 every year for the next 20 years. If the annual

image text in transcribed
Swifty Lou has just won the lottery and will receive an annual payment of $120,000 every year for the next 20 years. If the annual interest rate is 10%, what is the present value of the winnings? (For calculation purposes, use 5 decimal places as displayed in the foctor table provided.) Click here to view the factor table. Present value

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Risk Based Tax Audits Approaches And Country Experiences

Risk Based Tax Audits Approaches And Country Experiences

Authors: Munawer Sultan Khwaja, Rajul Awasthi, Jan Loeprick

1st Edition

0821387545, 978-0821387542

More Books

Students also viewed these Accounting questions

Question

★★★★★
If $680 is worth $698.70 after three months, what interest rate was charged?

Answered: 1 week ago

Question

★★★★★
Question 5 (Total marks for this question = 20 marks) The cash rate in Australia is set by the Board of the Reserve Bank of Australia. Explain why the cash rate in Australia is expected to reach at...

Answered: 1 week ago

Question

★★★★★
=+3. Assuming normal circumstance, how easy do you find getting up in the morning? (Check one.) Not at all easy (1) Slightly easy (2) Fairly easy (3) Very easy (4)

Answered: 1 week ago

Question

★★★★★
The GSS asked respondents to report their opinion on spanking as a method to discipline a child (SPANKING). Examine how respondents' attitudes toward spanking a child are associated with SEX, CLASS,...

Answered: 1 week ago

Question

★★★★★
Swifty Lou has just won the lottery and will receive an annual payment of $120,000 every year for the next 20 years. If the annual interest rate is 10%, what is the present value of the winnings?...

Answered: 1 week ago

Question

★★★★★
There are three projects available to a company to invest in. All investments require an initial investment of $25 million with the following forecasted cash flows. Assume end of year cash flows...

Answered: 1 week ago

Question

★★★★★
Pants (per day) 4 W Miyah's PPF N 1 Derek's PPF 2 3 4 5 6 Shirts (per day) The graph shows Miyah and Derek's Production Possibilities Curve. (a) What is Miyah's opportunity cost of producing a shirt?...

Answered: 1 week ago

Question

★★★★★
The parking brake fails on a 1800kg truck, causing it to roll downhill. At the bottom of the hill, it crashes into a parked car at 3 m/s. The truck comes to a stop in just 0.2 s. What force did the...

Answered: 1 week ago

Question

★★★★★
Henry, a resident of Nevada, sued Adam, a resident of Utah in the Federal Court in California. He sought $60,000 damages for personal injuries arising from an automobile accident that occurred in Los...

Answered: 1 week ago

Question

★★★★★
Whether someone is a manager or a lower-status employee, a company fines them every time they "clock in" late for work. This shared accountability is an example of ____________

Answered: 1 week ago

Question

★★★★★
Bless Ltd. purchased equipment for $80,000, with an expected salvage value of $5,000 after 8 years. Calculate the book value after 3 years using the double-declining balance method. Question 21...

Answered: 1 week ago

Question

★★★★★
3. What academic disciplines are used to study information systems and how does each contribute to an understanding of information systems?

Answered: 1 week ago

Question

★★★★★
3. What kinds of businesses are most likely to benefit from equipping their employees with mobile digital devices such as iPhones and iPads? How much of your job can you do from the palm of your...

Answered: 1 week ago

Question

★★★★★
4. One company deploying iPhones has said, The iPhone is not a game changer, its an industry changer. It changes the way that you can interact with your customers and with your suppliers. Discuss the...

Answered: 1 week ago

Previous Question Next Question