You have just won a lottery that promises an annual payment of $118,312 beginning immediately. You will
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You have just won a lottery that promises an annual payment of $118,312 beginning immediately. You will receive a total of 10 payments. If you can invest the cash flows in an investment paying 7.65 percent annually, what is the present value of this annuity?
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Related Book For
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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