5 0/1 point Congratulations, you just won the lottery! As the winner, you will receive payments...
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5 0/1 point Congratulations, you just won the lottery! As the winner, you will receive payments of $2 million at the beginning of every year over the next 10years. The first payment will be paid out already today. What is the present value of your lottery winnings? Assume an interest rate of 5% per year. Answer in millions of dollars with 2 decimals (for example, if your answer is 12,160,000 enter 12.16). 15.44 6 0/1 point Your parents plan on retiring in 30 years. In their retirement, they plan to withdraw a constant amount of money at the end of every year and do that forever. Assume that the annual interest rate is 8%, that they have $60,000 saved today, and that they don't plan on saving any more money. How much money will they be able to withdraw every year during their retirement? Answer in dollars with 2 decimals. 4,800 7 0/1 point Suppose that you will receive annual payments of $5,000 at the end of every year for a period of 10 years. The first payment will be made 4 years from now. What is the present value of this stream of payments? Assume an interest rate of 7% per year. Answer in dollars with 2 decimals. 26,528.73 12 0/1 point What is the present value of a 3 year annuity of $100 paid at the end of every year if the interest rate is 6% per year and you have to wait 2 years for the first payment? Answer in dollars with 2 decimals. 13 X 448.98 0/1 point Suppose that you will receive annual payments of $9,000 at the end of every year for a period of 10 years. The first payment will be made 4 years from now. If the interest rate is 5.2% per year what is the present value of this stream of payments? Answer in dollars with 2 decimals. 35,107.88 3 0/1 point Your goal is to have $2 million in 25 years when you retire. How much must you deposit at the end of every year leading up to your retirement in an investment account that earns a 7 percent interest rate in order to reach this retirement goal? Answer in dollars with 2 decimals. X 17,486.88 5 0/1 point Congratulations, you just won the lottery! As the winner, you will receive payments of $2 million at the beginning of every year over the next 10years. The first payment will be paid out already today. What is the present value of your lottery winnings? Assume an interest rate of 5% per year. Answer in millions of dollars with 2 decimals (for example, if your answer is 12,160,000 enter 12.16). 15.44 6 0/1 point Your parents plan on retiring in 30 years. In their retirement, they plan to withdraw a constant amount of money at the end of every year and do that forever. Assume that the annual interest rate is 8%, that they have $60,000 saved today, and that they don't plan on saving any more money. How much money will they be able to withdraw every year during their retirement? Answer in dollars with 2 decimals. 4,800 7 0/1 point Suppose that you will receive annual payments of $5,000 at the end of every year for a period of 10 years. The first payment will be made 4 years from now. What is the present value of this stream of payments? Assume an interest rate of 7% per year. Answer in dollars with 2 decimals. 26,528.73 12 0/1 point What is the present value of a 3 year annuity of $100 paid at the end of every year if the interest rate is 6% per year and you have to wait 2 years for the first payment? Answer in dollars with 2 decimals. 13 X 448.98 0/1 point Suppose that you will receive annual payments of $9,000 at the end of every year for a period of 10 years. The first payment will be made 4 years from now. If the interest rate is 5.2% per year what is the present value of this stream of payments? Answer in dollars with 2 decimals. 35,107.88 3 0/1 point Your goal is to have $2 million in 25 years when you retire. How much must you deposit at the end of every year leading up to your retirement in an investment account that earns a 7 percent interest rate in order to reach this retirement goal? Answer in dollars with 2 decimals. X 17,486.88
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Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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