Question
Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 19 years or as a lump-sum cash
Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 19 years or as a lump-sum cash option amount. The cash option amount is determined by discounting the annual winning payment at 6% over 19 years. This week the lottery is worth $19 million to a single winner. What would the cash option payout be?
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Financial Management Theory And Practice
Authors: Prasanna Chandra
11th Edition
9355322208, 978-9355322203
