Question: Question 18 (1 point) Today you won a small sweepstakes prize. Your winnings will be split into 12 monthly payments of $2,000 starting from today.

Question 18 (1 point) Today you won a small
Question 18 (1 point) Today you won a small sweepstakes prize. Your winnings will be split into 12 monthly payments of $2,000 starting from today. If the annual rate of return you can get at your bank is 3% (i.e. monthly return is 3%/12). what is the present value of your winnings? $20,505.25 $29,507.03 $23,614.51 $23,673.54 O $38,968.98 Question 19 (1 point)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!