Question
You have just received notification that you have won the $2.01 million first prize in the Centennial Lottery. However, the prize will be awarded on
| You have just received notification that you have won the $2.01 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 10 percent? |
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Public Finance
Authors: Richard W. Tresch
4th Edition
0128228644, 978-0128228647
