Time left 1:46:49 Marked out of 5.00 P Flag question Question 18 Not yet answered You just won the magazine sweepstakes and opted to take unending payments. The first payment will be $60,000 and will be paid one year from today. Every year thereafter, the payments will increase by 3% percent annually. What is the present value of your prize at a discount rate of 9 percent? Formula Sheet: https://lms.ozyegin.edu.tr/pluginfile.php/244586/mod_resource/content/3/Formulas%20for%20Midterm.pdf PV & FV Tables: https://lms.ozyegin.edu.tr/pluginfile.php/244588/mod_resource/content/1/FV_PV_Tables.pdf Answer: Previous page Next page