Question: On January 1 2010 you win 30 000 000 in the state

On January 1, 2010, you win $30,000,000 in the state lottery. The $30,000,000 prize will be paid in equal installments of $3,000,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31, 2010. If the current interest rate is 7%, determine the present value of your winnings. Use the present value tables in Appendix A.


View Solution:


Sale on SolutionInn
Sales1
Views473
Comments
  • CreatedSeptember 05, 2011
  • Files Included
Post your question
5000