Question
You have just paid $20 million in the secondary market for the winning Powerball lottery ticket. The prize is $2 million at the end of
You have just paid $20 million in the secondary market for the winning Powerball lottery ticket. The prize is $2 million at the end of each year for the next 25 years. If your required rate of return is 8 percent, what is the net present value (NPV) of the deal?
What is the modified internal rate of return (MIRR) of the Powerball deal in the above question?
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Public Finance
Authors: Steven G. Medema, Carl Sumner Shoup
1st Edition
0202307859, 978-0202307855
