Question
You won a small lottery that will pay you $10,000 per year for 25 years. If the first payment will occur at the end of
You won a small lottery that will pay you $10,000 per year for 25 years. If the first payment will occur at the end of this year and the appropriate discount rate is 5%, what is the present value of this promised payment stream?
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
18th Edition
126409762X, 9781264097623
