You have won a state lottery prize quoted as $12 million dollar lottery, what this really means is that if you take the monthly payments
You have won a state lottery prize quoted as $12 million dollar lottery, what this really means is that if you take the monthly payments of $50,000 for 20 years, you will have a total payout of $12 million. If the appropriate interest (discount) rate is assumed to be 4.8% APR, what would be the cash payout on this lottery today?
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Authors: Judith J. Baker, R.W. Baker, Neil R. Dworkin
5th Edition
1284118215, 978-1284118216
