Question
You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on
| You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming youre around to collect), 79 years from now. |
| What is the present value of your windfall if the appropriate discount rate is 8 percent? |
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, William J. Kretlow
11th Edition
0324653506, 978-0324653502
