Ask a New Question
Search
Suppose a state lottery prize of $2 million is to be paid in 20 payments of $100,000 each at the end of each of the next 20 years. If money is worth 9%, compounded annually, what is the present value of the prize?
Ask a New Question
or
answer this question
.
Similar Questions
A major lottery advertises that it pays the winner $10 million. However this prize money is paid at the rate of $500,000 each
0 answers
bruce wilson won 2 million in the state lottery. the lottery pays out the prize money in 20 annual installments of 100,000 each.
1 answer
The state lottery (which has a 6% lottery tax) offers to pay winnings in 25 annual payments or one lump sum,
sometimes called a
0 answers
The state lottery (which has a 6% lottery tax) offers to pay winnings in 25 annual payments or one lump sum,
sometimes called a
1 answer
more similar questions