Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 09, 2024

You just won $150,000 in the state lottery. Lottery rules do not allow a lumpsum payment. Instead, the lottery will pay you $5,000 per year

You just won $150,000 in the state lottery. Lottery rules do not allow a lumpsum payment. Instead, the lottery will pay you $5,000 per year for the next 10 years, followed by payments of $10,000 per year for the next ten years. How much are your winnings actually worth? The appropriate interest rate is 8% per year.

are they 2 ordinary annuity?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Auditing and Other Assurance Services

Authors: Ray Whittington, Kurt Pany

19th edition

978-0077804770, 78025613, 77804775, 978-0078025617

Students also viewed these Finance questions

Question

★★★★★

Given the stresses relative to compass coordinates (x = east, y = north, z = up), xx = 2,155, yy = 3,045, zz = 4,200, yx = 1,222, xz = 0, yx = 0 in psi with compression positive, find the principal...

Answered: 1 week ago

Question

★★★★★

Observe the shapes of the hyperbolas in Examples 2 and 3. Which hyperbola has the larger eccentricity? Confirm your answer by computing the eccentricity of each hyperbola. The eccentricity of a...

Answered: 1 week ago

Question

★★★★★

5. Give explanations at several levels so all students, not just the brightest, will understand.

Answered: 1 week ago

Question

★★★★★

Firms such as Wal-Mart, General Electric, Chase Manhattan, and Boeing have a lot of influence in their respective supply chains because of the power they have. Explain how firms with a lot of power...

Answered: 1 week ago

Question

★★★★★

Please show work on how to get "Rocky Brands' stock value by using the EBITDA ratio. ousiness, but Jared's has no debt. If Jared's has a P/E of 13.5 and an enterprise value to EBITDA multiple of 7.2,...

Answered: 1 week ago

Question

★★★★★

Maggie could not conceive a child using natural means, so she sought out a woman who would donate an egg to be surgically implanted in Maggie. Which of the following items are deductible by Maggie in...

Answered: 1 week ago

Question

★★★★★

I want steps Solution and when you find the percentage??% 1A and1B Sales Variable expenses $ 750,000 336,000 Contribution margin Fixed expenses 414,000 378,000 Net operating income s36,000 Management...

Answered: 1 week ago

Question

★★★★★

An individual has presented to you with the follow symptoms, what is a likely diagnosis? A female client was referred to you due to a report of neglect of her children. Her 5 and 9 year old children...

Answered: 1 week ago

Question

★★★★★

Nathan is frustrated with his instructor. He just doesn't understand Professor Jovian's lectures. Nathan is viewing lectures under what communication model? A. Public sphere model B. Interaction...

Answered: 1 week ago

Question

★★★★★

1. A crosshead tool is subjected to 4 forces as shown in the figure. Determine the magnitude of the resulting force.

Answered: 1 week ago

Question

★★★★★

QUESTION 1 Q1 Choose one . 5 points A moving electron has_ Only an electric field O Only a magnetic field O Both electric and magnetic fields O Neither electric or magnetic fields. QUESTION 2 Q2...

Answered: 1 week ago

Question

★★★★★

4. A boy is standing at the base of a tree. In the Bee are his "friends" throwing water-balloons full of hot sauce at him. It's not a prettyr scene. Our hero wants to hit one of (if not all of) these...

Answered: 1 week ago

Question

★★★★★

Assume a smoothing parameter of .1 and a forecasted amount of accidents for week 9 was 24. What is the exponential smoothing forecast for week 10

Answered: 1 week ago

Question

★★★★★

The statement of financial position for Cremore Ltd at 31 December is given below ( $ 000$ ): 2012 2011 Non-current assets Plant and equipment $\begin{array}{ll}\text { Cost } & 800 \\...

Answered: 1 week ago

Question

★★★★★

A The information given below has been extracted from the accounting records of Cedarwood Ltd for the year ending 30 June 2013. Prepare a statement showing the current cost operating profit to 30...

Answered: 1 week ago

Question

★★★★★

If the relevant price indices for trade accounts receivable and trade accounts payable are as follows, calculate the monetary working capital adjustment for Seafield Ltd, using the details given in...

Answered: 1 week ago

Previous Question Next Question