Question
You and 11 coworkers just won $77 million ($583 comma 333.33583,333.33 each) from the state lottery. Assuming you each receive your share over 1818 years
You and 11 coworkers just won
$77
million
($583 comma 333.33583,333.33
each) from the state lottery. Assuming you each receive your share over
1818
years and that the state lottery earns a
77
percent return on its funds, what is the present value of your prize before taxes if you request the 'up-front cash' option?
(Note:
Also assume an ordinary
annuitylong dashpayments
made at the end of each period.) Click on the table icon to view the annuity table
LOADING...
.
The present value of your prize before taxes if you request the 'up-front cash' option is
$nothing.
(Round your answer to the nearest dollar.)
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