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?
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Multinational Finance
Authors: Kirt C. Butler
4th Edition
1405181184, 978-1405181181
