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You won a lottery! To collect your winnings you will be paid annual amounts of $10,900 for each of the next 22 years. The appropriate
You won a lottery! To collect your winnings you will be paid annual amounts of $10,900 for each of the next 22 years. The appropriate discount rate is 9 percent per year. Calculate the difference in the present value if you are paid these annual amounts of money at the beginning of each year rather than at the end of each year. (please explain how to calculate on a financial calculator) A) 11,881 B) 9779 C) 10,900 D) 9,263 E)10,670
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