Question
You have won a small lottery in which you will receive a series of payments forever. The payments start at $963 received today and grow
You have won a small lottery in which you will receive a series of payments forever. The payments start at $963 received today and grow effectively at 1.60% a year forever. Given an APR of 6.40% compounded quarterly, what is the present value of your lottery winnings?
Question 9 options:
|
| $20,190 |
|
| $20,708 |
|
| $21,226 |
|
| $21,743 |
|
| $22,261 |
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International Trade Finance
Authors: Indian Institute Of Banking & Finance
1st Edition
9386394723, 978-9386394729
