Rita Gonzales won the $66 million lottery. She will receive $2.3 million a year for the next

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Rita Gonzales won the $66 million lottery. She will receive $2.3 million a year for the next 25 years plus an additional balloon payment of $8.5 million after 25 years. The discount rate is 11 percent. What is the present value of her earnings?

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Foundations of Financial Management

ISBN: 978-1259194078

15th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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Posted Date: Feb 14, 2023 05:42 AM

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Rita Gonzales won the $66 million lottery. She will receive $2.3 million a year for the next

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