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You just won the $44 million lottery. You will receive $2 million a year for the next 17 years plus an additional payment of
You just won the $44 million lottery. You will receive $2 million a year for the next 17 years plus an additional payment of $10 million at the end of 17 years. The interest rate is 9 percent. How much is your lottery prize worth today? (Enter your answer as a positive number rounded to 2 decimal places.)
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To calculate the present value of the lottery prize we need to discount each cash flow to its presen...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
