Question
You have just won the lottery and will receive $620,000 in one year. You will receive payments for 20 years, and the payments will increase
You have just won the lottery and will receive $620,000 in one year. You will receive payments for 20 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings?
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Introductory Econometrics For Finance
Authors: Chris Brooks
4th Edition
110843682X, 9781108436823
