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EL MC You just won a national sweepstakes! For you... You just won a national sweepstakes. For your prize, you opted to receive never-ending payments.

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EL MC You just won a national sweepstakes! For you... You just won a national sweepstakes. For your prize, you opted to receive never-ending payments. The first payment will be $12,500 and will be paid one year from today. Every year thereafter, the payments will increase by 3.5 percent annually. What is the present value of your prize at a discount rate of percent? Multiple Choice $300,000.00 $291,006.12 $27777778 $166,666.67 $243.409.19

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