Question
You have just won the lottery and will receive $1,000,000 one year from now. Thereafter your payments will increase at 3% per year for the
You have just won the lottery and will receive $1,000,000 one year from now. Thereafter your payments will increase at 3% per year for the next 29 years. If the appropriate discount rate is 7% per year, what is the present value of your winnings?
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Handbook Of Consumer Finance Research
Authors: Jing J. Xiao
1st Edition
1441926046, 978-1441926043
