You won a lottery which pays $10,000 per year for 10 years (at beginning of next year).

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You won a lottery which pays $10,000 per year for 10 years (at beginning of next year). Assuming a discount rate of 8% calculate the present value of your expected winnings.

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Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

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Posted Date: Jan 07, 2021 04:15 PM

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You won a lottery which pays $10,000 per year for 10 years (at beginning of next year).

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Answer Year Cash Flows PV Factor 8 Present Value 1 1000000 09259 ... View the full answer

Entrepreneurial Finance

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