The $102 million lottery payment that you just won actually pays $3.4 million per year for 30 years. If the discount rate is 12.00% and
The $102 million lottery payment that you just won actually pays $3.4 million per year for 30 years. If the discount rate is 12.00% and the first payment comes in 1 year. A. What is the present value of the winnings? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) B. What is the present value of the winnings, if the first payment comes immediately? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
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Authors: Judith J. Baker, R.W. Baker
3rd Edition
076377894X, 978-0763778941
