Russell Wilson has won a million dollars in the state lottery that will pay him $50,000 annually
Fantastic news! We've Found the answer you've been seeking!
Question:
Russell Wilson has won a million dollars in the state lottery that will pay him $50,000 annually in 25 annual installments. He will get the first installment right now. Using a discount rate of 10% per year, find the equivalent lump sum would get if he chooses the lump sum. (round to the nearest whole number)
Related Book For
Statistics Informed Decisions Using Data
ISBN: 9780134133539
5th Edition
Authors: Michael Sullivan III
Posted Date: