A Lottery winner chooses to receive a yearly distribution of her winnings instead of a lump sum payout. She will receive a payment of 8,972,945 every year starting today for the next 20 years. Assume the cost of capital is 7.25 percent If she had chosen to receive a lump sum payment immediately how much would she have received?

Answer rating: 100% (QA)

Periodic payment PMT 8972945 every year start today Time period n ... View the full answer