Question
The $ 224,286,054 lottery that you just won actually pays ($ 224,286,054 divided by 33 ) per year for 33 years. If the discount rate
The $ 224,286,054 lottery that you just won actually pays ($ 224,286,054 divided by 33 ) per year for 33 years. If the discount rate is 8 percent, and the first payment comes in 1 year, what is the present value of the winnings?
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Foundations Of Financial Markets And Institutions
Authors: Franco Modigliani, Frank J. Jones, Michael G. Ferri, Frank J. Fabozzi
3rd Edition
0130180793, 978-0130180797
