You just won the grand prize in the Alabama State Lottery and were told that your $2,350,500 prize was to be paid out to you over the next 15 years in annual payments of $156,700 per year Assuming a cost of capital of 4 what is the actual present value of your winnings Round your answer to the nea...

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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