Devin won the lottery however, the lottery company gave him the following two options to receive his
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Devin won the lottery however, the lottery company gave him the following two options to receive his prize money option (a) $8,000 in two months and $14,000 in eight months option (b) $4,000 immediately and $20,000 in ten months assume that money earns 35 pa simple interest and use today as the focal date a what was the equivalent value of the payments under option (a) at the focal date $000 round to the nearest cent b what was the equivalent value of the payments under option (b) What was the equivalent value of the payments under option (b) at the focal date?
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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