Question: Question Status: 1 2V 6 ? ? 3 3:35 PM 10 You may attempt this question 4 more times for credit. Consider a lottery that

Question Status: 1 2V 6 ? ? 3 3:35 PM 10

Question Status: 1 2V 6 ? ? 3 3:35 PM 10 You may attempt this question 4 more times for credit. Consider a lottery that pays to the winner an annuity of $750 that begins immediately (an annuity due) and then annually in year 1 through year 13 with one exception. Because of high administrative costs associated with running the lottery, the payment in year 8, and only 8, is not $750 but $0. Using an interest rate of 8%, determine the present value of this cash flow stream. $ INSTRUCTIONS: Place your answer in dollars and cents without using a dollar sign or a comma. For example, if your answer is one hundred thousand five hundred and seventy then place your answer as 100570. Work all analysis using at least four decimal places of accuracy. CHECK

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!

1. From the standpoint of an automobile company, what sources of information in this article offer secondary data? 2. Suggest two or three other sources of data that might be of interest to auto...

Question Status: 1 V 2 V 3 ? 2 4 V 5 ? 2 6 . 7 ? 2 8 ? 9 ? 1 0 ? 3 . 1 0 : 0 5 PM You may attempt this question 3 more times for credit. Consider the Sport Hotel example that was introduced and...

Hello ther, I need help with my finance case study (Ramsey Co. Case study). Please see the attachments for details and instructions. Thanks, Ramsey Inc. 2013 Purchase Order Register March 1, 2013 -...

Assignments Assignment List Assignment Notes Unit Menu Previous Item Next Item Redo Question Communication Send Message View Messages Miscellaneous Appendix Units of Measure Question Status : 1 2 3 4...

Question Status : 1 . V 3 2 4 ? 5 ? 2 6 ? 2 7 ? 8 ? 1 0 ? 1 0 : 3 3 PM You may attempt this question 3 more times for credit. What principal is needed to accumulate $ 4 3 9 0 . 0 0 in 8 years at 4 ....

Question Status : 1 . ? 2 2 ? 2 3 x 4 ? 5 ? 2 6 ? 2 7 . ? 8 ? 2 9 ? 1 0 ? 1 0 : 3 4 PM You may attempt this question 3 more times for credit. The NASDAQ rose from $ 1 2 2 0 0 . 0 0 to $ 1 5 3 0 0 . 0...

Final_Exam_Macro Question 1 (2 points) Purchasing-power panty theory does not hold at all times because many goods are not easily transported and the same goods produced in different countries may be...

PowerPoint Assignment for BUS 401: Principles of Finance You have been asked by a manager in your organization to put together a training program explaining Net Present Value (NPV) and Future Value...

Each separate response must have approximately 200 words. Assignments vary widely; however, essays should be written in APA style, with in-text citations and a separate reference listing as...

For a 10-turn loop antenna of radius 15 cm operating at 100 MHz, calculate the effective area at = 30, = 90.

Write journal entries for the following transactions that occurred during May and explain how each would be disclosed in the financial statement 1. The company prepaid $14,340 rent for the period May...

\ table [ [ Torche Corporation Income Statement January 1 to December 3 1 , 2 0 2 4 ( amounts in thousands ) ] , [ Revenue , 9 , 1 0 0 ] , [ Cost of Goods Sold ( COGS ) , 2 , 7 3 0 ] , [ Gross...

3 If the production system for a product has a utilization of 80 percent and a yield of 75 percent, what capacity is needed to produce 1000 units a year