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The City of Chicago has decided to bid for the 2030 Winter Olympics, and they have come to you to decide how much they should
The City of Chicago has decided to bid for the 2030 Winter Olympics, and they have come to you to decide how much they should bid! The city believes that the games will increase the city's economic activity in the future due to increased tourist spending, hotel stays, etc. Assume a 5% interest rate for this question. Today, the ciity belives that in the year 2029 it will receive $8,000,000,000 billion in increased economic activity. What is the present value of this benefit? Round to nearest dollar
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