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You won a lottery that will make equal payments of $2,500 at the end of each year for the next six years. If the annual
You won a lottery that will make equal payments of $2,500 at the end of each year for the next six years. If the annual interest rate stays constant at 8%, what is the value of these payments in todays dollars? Round your answer to the nearest whole dollar. $12,482 $9,823 $11,557 $14,446 You found out that now you are going to receive payments of $6,000 for the next 13 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 13%. What is the present value of these payments? Round your answer to the nearest whole dollar. $36,731 $33,205 $56,033 $41,506
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