As the lottery winner, you are promised 15 payments of $0.99 million each year starting a year
Fantastic news! We've Found the answer you've been seeking!
Question:
- As the lottery winner, you are promised 15 payments of $0.99 million each year starting a year from now. If the discount rate is 0.117, what is the present value of your lottery winnings? step by step explanation.
Expert Answer:
To calculate the present value of your lottery winnings we will use the discounted cash flow DCF method The DCF method takes into account the time val... View the full answer
Related Book For 
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
