Question
You just won the $114 million Ultimate Lotto jackpot. Your winnings will be paid as $3,800,000 per year at the end of the year for
You just won the $114 million Ultimate Lotto jackpot. Your winnings will be paid as $3,800,000 per year at the end of the year for the next 30 years. If the appropriate interest rate is 7.1 percent, what is the value of your windfall?
Multiple Choice
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$46,684,511.77
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$49,999,112.11
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$48,240,662.16
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$46,199,112.11
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$44,350,286.18
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How To Understand Business Finance
Authors: Bob Cinnamon, Brian Helweg-Larsen
2nd Edition
0749460202, 978-0749460204
