Skip to main content

HW$4$

AnswerSaved

Help opens in a new windowSave & ExitSubmit

Check my work mode $.$: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion.

Item$5$

$8\mathrm{.}33$points

Return to question

Item $5$

You have just received notification that you have won the $$2\mathrm{.}07$ million first prize in the Centennial Lottery. However, the prize will be awarded on your $100$th birthday $($assuming you$$re around to collect$),73$ years from now. What is the present value of your windfall if the appropriate discount rate is $11$ percent?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.$

Prev

Question $5$ of $12$ Total$5$ of $12$

Visit question mapNext