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Tonight's Powerball lottery has a $ 6 0 million Jackpot. If you win you have two choices: 1 ) Take a 2 6 year Annuity
Tonight's Powerball lottery has a $ million Jackpot.
If you win you have two choices:
Take a year Annuity starting Today or
Take the Cash Present Value of the above cash flows.
If you elect to take the Cash Present Value and the Lottery Commission uses a Discount Rate Interest rate what is the $$ amount you'd get today?
DROP ALL THE ZEROS.. JUST ENTER THE MILLIONS. EXAMPLE: IF YOUR ANSWER IS SIMPLY ENTER
I know the answer is but I need help getting there
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